Ares Capital Co. (NASDAQ:ARCC) Position Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in shares of Ares Capital Co. (NASDAQ:ARCCGet Rating) by 65.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,466 shares of the investment management company’s stock after selling 73,682 shares during the quarter. Mackenzie Financial Corp’s holdings in Ares Capital were worth $708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cutter & CO Brokerage Inc. grew its stake in Ares Capital by 0.9% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 65,111 shares of the investment management company’s stock valued at $1,167,000 after acquiring an additional 559 shares in the last quarter. Merriman Wealth Management LLC grew its stake in shares of Ares Capital by 2.4% in the 2nd quarter. Merriman Wealth Management LLC now owns 25,417 shares of the investment management company’s stock valued at $456,000 after buying an additional 588 shares in the last quarter. Private Wealth Strategies L.L.C. grew its stake in shares of Ares Capital by 2.5% in the 2nd quarter. Private Wealth Strategies L.L.C. now owns 27,785 shares of the investment management company’s stock valued at $498,000 after buying an additional 680 shares in the last quarter. Stonebridge Financial Planning Group LLC grew its stake in shares of Ares Capital by 0.8% in the 2nd quarter. Stonebridge Financial Planning Group LLC now owns 81,803 shares of the investment management company’s stock valued at $1,467,000 after buying an additional 686 shares in the last quarter. Finally, Bison Wealth LLC grew its stake in shares of Ares Capital by 2.9% in the 2nd quarter. Bison Wealth LLC now owns 26,381 shares of the investment management company’s stock valued at $473,000 after buying an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 33.79% of the company’s stock.

Ares Capital Stock Up 0.5 %

Shares of ARCC stock opened at $19.69 on Friday. Ares Capital Co. has a 12 month low of $16.53 and a 12 month high of $23.00. The firm has a market cap of $10.01 billion, a PE ratio of 11.65 and a beta of 1.02. The stock has a 50 day moving average of $18.54 and a 200-day moving average of $19.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.26.

Ares Capital (NASDAQ:ARCCGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The investment management company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Ares Capital had a return on equity of 10.33% and a net margin of 40.71%. During the same quarter last year, the firm earned $0.47 earnings per share. On average, equities analysts predict that Ares Capital Co. will post 2.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ARCC shares. Raymond James lowered their price target on Ares Capital from $21.00 to $20.50 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Wells Fargo & Company lowered their price target on Ares Capital from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 24th. Hovde Group decreased their target price on Ares Capital to $19.00 in a research report on Wednesday, October 5th. StockNews.com began coverage on Ares Capital in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Finally, JMP Securities decreased their target price on Ares Capital from $24.00 to $22.00 and set a “market outperform” rating for the company in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

Insider Transactions at Ares Capital

In other Ares Capital news, CFO Penelope F. Roll purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was bought at an average cost of $19.04 per share, for a total transaction of $47,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 54,500 shares in the company, valued at $1,037,680. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.59% of the company’s stock.

About Ares Capital

(Get Rating)

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 Stories

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.