Ares Capital Co. (NASDAQ:ARCC) Position Reduced by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. trimmed its holdings in Ares Capital Co. (NASDAQ:ARCC) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,747 shares of the investment management company’s stock after selling 2,320 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Ares Capital were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in Ares Capital by 1,865.8% during the 4th quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock valued at $844,260,000 after acquiring an additional 4,000,570 shares in the last quarter. Van ECK Associates Corp grew its position in Ares Capital by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 8,282,079 shares of the investment management company’s stock valued at $165,890,000 after purchasing an additional 840,823 shares in the last quarter. Melia Wealth LLC acquired a new position in Ares Capital in the 4th quarter valued at approximately $13,992,000. Tudor Investment Corp Et Al purchased a new stake in Ares Capital in the 3rd quarter worth approximately $11,952,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Ares Capital by 484.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,265 shares of the investment management company’s stock valued at $13,615,000 after buying an additional 579,582 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $20.89 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $20.44 and a 200 day moving average price of $20.09. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 7.15 and a beta of 0.99. Ares Capital Co. has a twelve month low of $18.00 and a twelve month high of $21.00.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Research analysts predict that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.19%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Capital’s payout ratio is presently 65.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ARCC shares. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Truist Financial lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Oppenheimer upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their target price on Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

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.