Clearbridge Investments LLC Reduces Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Clearbridge Investments LLC trimmed its holdings in shares of Ares Capital Co. (NASDAQ:ARCCGet Rating) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,899 shares of the investment management company’s stock after selling 807 shares during the period. Clearbridge Investments LLC owned about 0.05% of Ares Capital worth $4,893,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wagner Wealth Management LLC purchased a new position in shares of Ares Capital during the 2nd quarter worth approximately $27,000. Larson Financial Group LLC grew its stake in Ares Capital by 1,098.9% in the 2nd quarter. Larson Financial Group LLC now owns 2,098 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,923 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in Ares Capital in the 1st quarter worth approximately $48,000. Rosenberg Matthew Hamilton grew its stake in Ares Capital by 48.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 2,865 shares of the investment management company’s stock worth $54,000 after acquiring an additional 932 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Ares Capital by 52.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,834 shares of the investment management company’s stock worth $59,000 after acquiring an additional 975 shares during the period. 33.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ares Capital

In related news, CFO Penelope F. Roll purchased 2,500 shares of Ares Capital stock in a transaction dated Wednesday, September 14th. The stock was bought at an average cost of $19.04 per share, with a total value of $47,600.00. Following the purchase, the chief financial officer now owns 54,500 shares in the company, valued at approximately $1,037,680. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.59% of the stock is currently owned by company insiders.

Ares Capital Trading Up 0.5 %

Ares Capital stock opened at $19.69 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $18.54 and a two-hundred day moving average price of $19.00. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 11.65 and a beta of 1.02. Ares Capital Co. has a 52-week low of $16.53 and a 52-week high of $23.00.

Ares Capital (NASDAQ:ARCCGet Rating) last posted its earnings results on Tuesday, October 25th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Ares Capital had a net margin of 40.71% and a return on equity of 10.33%. During the same quarter last year, the business posted $0.47 earnings per share. Sell-side analysts expect that Ares Capital Co. will post 2.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARCC shares. Citigroup decreased their price target on shares of Ares Capital from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. StockNews.com began coverage on shares of Ares Capital in a report on Wednesday, October 12th. They set a “sell” rating on the stock. JMP Securities reduced their target price on shares of Ares Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Raymond James reduced their target price on shares of Ares Capital from $21.00 to $20.50 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Wells Fargo & Company cut their price objective on shares of Ares Capital from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.81.

Ares Capital Company Profile

(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.

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

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