Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Relative Value Partners Group LLC

Relative Value Partners Group LLC cut its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,819 shares of the investment management company’s stock after selling 3,063 shares during the quarter. Relative Value Partners Group LLC’s holdings in Ares Capital were worth $4,488,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Stephens Inc. AR increased its holdings in Ares Capital by 0.4% in the 1st quarter. Stephens Inc. AR now owns 161,135 shares of the investment management company’s stock worth $2,762,000 after acquiring an additional 565 shares during the last quarter. Ffcm LLC increased its holdings in Ares Capital by 53.4% in the 4th quarter. Ffcm LLC now owns 2,201 shares of the investment management company’s stock worth $34,000 after acquiring an additional 766 shares during the last quarter. Nwam LLC increased its holdings in Ares Capital by 4.2% in the 1st quarter. Nwam LLC now owns 19,461 shares of the investment management company’s stock worth $334,000 after acquiring an additional 780 shares during the last quarter. SeaBridge Investment Advisors LLC increased its holdings in Ares Capital by 0.6% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 126,010 shares of the investment management company’s stock worth $2,160,000 after acquiring an additional 800 shares during the last quarter. Finally, Pekin Singer Strauss Asset Management IL increased its holdings in Ares Capital by 1.0% in the 4th quarter. Pekin Singer Strauss Asset Management IL now owns 84,745 shares of the investment management company’s stock worth $1,320,000 after acquiring an additional 820 shares during the last quarter. 37.62% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the company. BidaskClub lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Friday. Wedbush set a $20.00 price objective on Ares Capital and gave the stock a “buy” rating in a report on Tuesday, May 14th. National Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Ares Capital in a report on Wednesday, May 1st. Finally, Zacks Investment Research lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.25.

ARCC stock traded up $0.11 during mid-day trading on Friday, reaching $17.79. 24,517 shares of the company traded hands, compared to its average volume of 1,650,904. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $7.69 billion, a PE ratio of 10.57 and a beta of 0.64. Ares Capital Co. has a 52-week low of $14.50 and a 52-week high of $18.24.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 30th. The investment management company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. The business had revenue of $373.00 million during the quarter, compared to analyst estimates of $337.96 million. Ares Capital had a return on equity of 10.12% and a net margin of 59.58%. During the same quarter in the previous year, the firm earned $0.57 EPS. On average, equities research analysts anticipate that Ares Capital Co. will post 1.79 EPS for the current fiscal year.

The business also recently announced a special dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.02 per share. This represents a yield of 9.04%. The ex-dividend date is Friday, September 13th. Ares Capital’s payout ratio is presently 95.24%.

In other Ares Capital news, Director Steven B. Mckeever purchased 5,640 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $17.52 per share, for a total transaction of $98,812.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel G. Kelly, Jr. purchased 4,500 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $18.01 per share, with a total value of $81,045.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,465 shares of company stock valued at $361,523 in the last ninety days. Insiders own 0.53% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.chaffeybreeze.com/2019/06/14/ares-capital-co-nasdaqarcc-shares-sold-by-relative-value-partners-group-llc.html.

Ares Capital 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: Recession

Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Co. (NASDAQ:ARCC).

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

Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.