Baird Financial Group Inc. reduced its position in Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 541,643 shares of the investment management company’s stock after selling 4,317 shares during the period. Baird Financial Group Inc. owned 0.10% of Ares Capital worth $10,004,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Arlington Partners LLC purchased a new stake in shares of Ares Capital in the 4th quarter valued at about $31,000. Accurate Wealth Management LLC purchased a new stake in shares of Ares Capital in the 4th quarter valued at about $33,000. Ellis Investment Partners LLC lifted its holdings in shares of Ares Capital by 49.9% in the 3rd quarter. Ellis Investment Partners LLC now owns 2,082 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 693 shares during the last quarter. MADDEN SECURITIES Corp purchased a new stake in shares of Ares Capital in the 4th quarter valued at about $41,000. Finally, Arcus Capital Partners LLC purchased a new stake in shares of Ares Capital in the 4th quarter valued at about $55,000. 32.24% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on ARCC shares. JMP Securities reduced their price objective on Ares Capital from $23.00 to $20.00 in a research note on Thursday, April 27th. TheStreet raised Ares Capital from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. StockNews.com started coverage on Ares Capital in a research note on Thursday, May 18th. They set a “hold” rating for the company. Citigroup reduced their price objective on Ares Capital from $22.00 to $20.00 in a research note on Friday, April 28th. Finally, Wells Fargo & Company downgraded Ares Capital from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $18.00 in a research note on Tuesday, April 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ares Capital has an average rating of “Moderate Buy” and a consensus target price of $19.86.
Ares Capital Stock Performance
Ares Capital (NASDAQ:ARCC – Get Rating) last released its earnings results on Tuesday, April 25th. The investment management company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). Ares Capital had a return on equity of 12.04% and a net margin of 29.33%. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $633.13 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 40.5% on a year-over-year basis. Research analysts expect that Ares Capital Co. will post 2.31 EPS for the current year.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date is Wednesday, June 14th. Ares Capital’s dividend payout ratio is currently 150.00%.
Insider Buying and Selling
In other news, insider Michael Kort Schnabel purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were acquired at an average price of $17.84 per share, for a total transaction of $267,600.00. Following the acquisition, the insider now directly owns 15,000 shares in the company, valued at approximately $267,600. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.
Ares Capital Company Profile
Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.
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