Ares Capital Co. (ARCC) Holdings Boosted by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 563,968 shares of the investment management company’s stock after buying an additional 28,420 shares during the quarter. Ares Capital makes up approximately 1.8% of Baltimore Washington Financial Advisors Inc.’s investment portfolio, making the stock its 21st largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Ares Capital were worth $9,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARCC. DnB Asset Management AS boosted its holdings in shares of Ares Capital by 8.2% during the second quarter. DnB Asset Management AS now owns 142,545 shares of the investment management company’s stock worth $2,345,000 after acquiring an additional 10,800 shares during the period. Mckinley Capital Management LLC Delaware boosted its holdings in shares of Ares Capital by 9.2% during the second quarter. Mckinley Capital Management LLC Delaware now owns 582,635 shares of the investment management company’s stock worth $9,585,000 after acquiring an additional 49,025 shares during the period. LGT Capital Partners LTD. boosted its holdings in shares of Ares Capital by 2.3% during the second quarter. LGT Capital Partners LTD. now owns 1,310,000 shares of the investment management company’s stock worth $21,549,000 after acquiring an additional 30,000 shares during the period. V Wealth Management LLC boosted its holdings in shares of Ares Capital by 9.0% during the second quarter. V Wealth Management LLC now owns 48,587 shares of the investment management company’s stock worth $808,000 after acquiring an additional 4,032 shares during the period. Finally, Bristol Advisors LLC bought a new stake in shares of Ares Capital during the second quarter worth approximately $308,000. 40.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ARCC stock opened at $17.15 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.41 and a quick ratio of 1.35. The company has a market capitalization of $7.31 billion, a P/E ratio of 12.34, a P/E/G ratio of 3.57 and a beta of 0.60. Ares Capital Co. has a 1 year low of $15.03 and a 1 year high of $17.58.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 31st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $320.15 million. Ares Capital had a return on equity of 9.34% and a net margin of 72.13%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, analysts predict that Ares Capital Co. will post 1.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 9.10%. The ex-dividend date of this dividend is Thursday, December 13th. Ares Capital’s dividend payout ratio (DPR) is currently 112.23%.

A number of brokerages have recently issued reports on ARCC. BidaskClub cut Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, July 27th. National Securities restated a “buy” rating and set a $19.00 price objective on shares of Ares Capital in a report on Thursday. Oppenheimer set a $18.00 price objective on Ares Capital and gave the stock a “buy” rating in a report on Thursday. Finally, Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, October 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Ares Capital presently has a consensus rating of “Buy” and a consensus price target of $18.13.

In related news, Director Eric B. Siegel purchased 6,990 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was acquired at an average cost of $17.30 per share, for a total transaction of $120,927.00. Following the completion of the purchase, the director now owns 36,630 shares in the company, valued at approximately $633,699. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bates Ann Torre purchased 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was bought at an average price of $17.44 per share, with a total value of $156,960.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $348,800. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 16,590 shares of company stock valued at $288,055. 0.49% of the stock is currently owned by corporate insiders.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.

Further Reading: How to interpret a stock’s beta number

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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