International Assets Investment Management LLC Sells 3,987 Shares of Ares Capital Co. (NASDAQ:ARCC)

International Assets Investment Management LLC cut its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 210,434 shares of the investment management company’s stock after selling 3,987 shares during the quarter. International Assets Investment Management LLC’s holdings in Ares Capital were worth $4,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Ares Capital by 10.5% in the third quarter. Van ECK Associates Corp now owns 7,441,256 shares of the investment management company’s stock worth $144,881,000 after buying an additional 708,568 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Ares Capital by 0.8% in the 3rd quarter. Advisors Capital Management LLC now owns 3,043,209 shares of the investment management company’s stock valued at $59,251,000 after buying an additional 23,276 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Ares Capital by 3.5% in the 4th quarter. Sound Income Strategies LLC now owns 1,954,786 shares of the investment management company’s stock worth $39,154,000 after buying an additional 66,878 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Ares Capital by 4.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,378,882 shares of the investment management company’s stock worth $26,847,000 after acquiring an additional 59,808 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its position in Ares Capital by 4.8% during the third quarter. Gilbert & Cook Inc. now owns 1,299,191 shares of the investment management company’s stock valued at $25,295,000 after acquiring an additional 59,708 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Down 0.1 %

NASDAQ ARCC opened at $20.78 on Thursday. Ares Capital Co. has a 1 year low of $18.00 and a 1 year high of $21.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $12.63 billion, a PE ratio of 7.12 and a beta of 0.99. The company has a fifty day moving average of $20.46 and a 200 day moving average of $20.11.

Ares Capital (NASDAQ:ARCC) last issued 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 net margin of 62.77% and a return on equity of 12.37%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Research analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.24%. Ares Capital’s payout ratio is 65.75%.

Analyst Ratings Changes

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

About Ares Capital

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.