Fernwood Investment Management LLC Sells 1,305 Shares of Ares Capital Co. (NASDAQ:ARCC)

Fernwood Investment Management LLC lessened its holdings in Ares Capital Co. (NASDAQ:ARCC) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,937 shares of the investment management company’s stock after selling 1,305 shares during the quarter. Ares Capital accounts for approximately 1.1% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Fernwood Investment Management LLC’s holdings in Ares Capital were worth $1,972,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pennsylvania Trust Co purchased a new stake in Ares Capital in the 1st quarter worth approximately $12,769,000. Nwam LLC grew its stake 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 period. DAVENPORT & Co LLC grew its stake in Ares Capital by 13.3% in the 1st quarter. DAVENPORT & Co LLC now owns 124,093 shares of the investment management company’s stock worth $2,127,000 after acquiring an additional 14,538 shares during the period. Financial Advantage Inc. grew its stake in Ares Capital by 0.8% in the 1st quarter. Financial Advantage Inc. now owns 285,221 shares of the investment management company’s stock worth $4,888,000 after acquiring an additional 2,178 shares during the period. Finally, Wedbush Securities Inc. grew its stake in shares of Ares Capital by 28.2% during the 1st quarter. Wedbush Securities Inc. now owns 129,587 shares of the investment management company’s stock valued at $2,221,000 after buying an additional 28,538 shares during the period. 37.42% of the stock is owned by institutional investors.

Shares of NASDAQ ARCC traded up $0.06 during trading on Thursday, hitting $18.39. 46,607 shares of the company traded hands, compared to its average volume of 1,606,659. Ares Capital Co. has a 1 year low of $14.50 and a 1 year high of $18.83. The stock has a 50-day moving average of $18.21. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 10.99 and a beta of 0.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.10.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The business had revenue of $382.00 million for the quarter, compared to analyst estimates of $363.60 million. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, research analysts predict that Ares Capital Co. will post 1.85 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. BidaskClub raised shares of Ares Capital from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Raymond James boosted their price objective on shares of Ares Capital from $19.00 to $19.50 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. National Securities reissued a “buy” rating and set a $20.00 price objective on shares of Ares Capital in a research note on Wednesday, May 1st. Wedbush set a $20.00 price objective on shares of Ares Capital and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, BMO Capital Markets set a $19.00 price objective on shares of Ares Capital and gave the company a “hold” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.25.

In other Ares Capital news, CFO Penelope F. Roll bought 2,000 shares of Ares Capital stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $18.36 per share, for a total transaction of $36,720.00. Following the acquisition, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $204,658.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel G. Kelly, Jr. bought 6,000 shares of Ares Capital stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $18.44 per share, for a total transaction of $110,640.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,900 shares of company stock worth $235,559 in the last 90 days. Company insiders own 0.53% of the company’s stock.

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.

Featured Story: Yield Curve

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.