Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC raised its holdings in Ares Capital Co. (NASDAQ:ARCC) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 383,034 shares of the investment management company’s stock after purchasing an additional 64,524 shares during the period. Tectonic Advisors LLC owned about 0.06% of Ares Capital worth $8,021,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Ares Capital by 20.2% during the 2nd quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after acquiring an additional 1,961,166 shares in the last quarter. International Assets Investment Management LLC grew its stake in Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after buying an additional 3,449,395 shares during the last quarter. LPL Financial LLC grew its stake in Ares Capital by 8.5% during the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock worth $72,778,000 after buying an additional 273,025 shares during the last quarter. Advisors Capital Management LLC grew its stake in Ares Capital by 7.8% during the 1st quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock worth $64,524,000 after buying an additional 223,245 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Ares Capital by 3.7% during the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after buying an additional 79,074 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Compass Point raised Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities raised their target price on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Stock Performance

Shares of ARCC stock opened at $21.67 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $13.32 billion, a P/E ratio of 7.42 and a beta of 1.01. The stock’s 50-day moving average is $20.94 and its two-hundred day moving average is $20.90. Ares Capital Co. has a fifty-two week low of $18.59 and a fifty-two week high of $21.84.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period in the previous year, the business posted $0.58 EPS. Analysts predict that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.86%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s payout ratio is presently 65.75%.

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.