Stephens Inc. AR raised its holdings in Ares Capital Co. (NASDAQ:ARCC) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 166,037 shares of the investment management company’s stock after purchasing an additional 4,902 shares during the quarter. Stephens Inc. AR’s holdings in Ares Capital were worth $2,979,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its stake in Ares Capital by 656.9% in the first quarter. Parallel Advisors LLC now owns 1,582 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 1,373 shares during the period. Ropes Wealth Advisors LLC acquired a new position in Ares Capital in the second quarter valued at $27,000. Weaver Consulting Group acquired a new position in Ares Capital in the first quarter valued at $29,000. Nordea Investment Management AB increased its stake in Ares Capital by 50.9% in the first quarter. Nordea Investment Management AB now owns 1,684 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. Finally, Howe & Rusling Inc. acquired a new position in Ares Capital in the first quarter valued at $33,000. Institutional investors own 37.42% of the company’s stock.
ARCC has been the topic of a number of recent research reports. Wedbush set a $20.00 price objective on shares of Ares Capital and gave the company a “buy” rating in a research note on Tuesday, May 14th. National Securities restated a “buy” rating and issued a $20.00 price objective on shares of Ares Capital in a research note on Wednesday, May 1st. Raymond James lifted their price objective on shares of Ares Capital from $19.00 to $19.50 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets set a $19.00 price objective on shares of Ares Capital and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, BidaskClub upgraded shares of Ares Capital from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Ares Capital has a consensus rating of “Buy” and an average target price of $19.25.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The business had revenue of $382.00 million for the quarter, compared to the consensus estimate of $363.60 million. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, equities analysts expect that Ares Capital Co. will post 1.85 EPS for the current year.
In other news, Director Daniel G. Kelly, Jr. bought 4,500 shares of the stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $18.01 per share, with a total value of $81,045.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Penelope F. Roll bought 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $18.36 per share, for a total transaction of $36,720.00. Following the acquisition, the chief financial officer now owns 11,147 shares of the company’s stock, valued at $204,658.92. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 18,325 shares of company stock worth $335,488. Insiders own 0.53% of the company’s stock.
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.
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