Gilbert & Cook Inc. Acquires 20,090 Shares of Ares Capital Co. (NASDAQ:ARCC)

Gilbert & Cook Inc. increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 625,696 shares of the investment management company’s stock after purchasing an additional 20,090 shares during the period. Ares Capital accounts for approximately 3.3% of Gilbert & Cook Inc.’s holdings, making the stock its 11th largest position. Gilbert & Cook Inc. owned about 0.15% of Ares Capital worth $11,660,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its position in shares of Ares Capital by 23.4% in the second quarter. Foundations Investment Advisors LLC now owns 100,401 shares of the investment management company’s stock valued at $1,815,000 after buying an additional 19,026 shares in the last quarter. RDA Financial Network raised its position in shares of Ares Capital by 4.5% in the second quarter. RDA Financial Network now owns 25,816 shares of the investment management company’s stock valued at $466,000 after buying an additional 1,100 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of Ares Capital by 18.6% in the second quarter. Douglass Winthrop Advisors LLC now owns 44,475 shares of the investment management company’s stock valued at $798,000 after buying an additional 6,975 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Ares Capital by 0.6% in the second quarter. DAVENPORT & Co LLC now owns 124,897 shares of the investment management company’s stock valued at $2,241,000 after buying an additional 804 shares in the last quarter. Finally, Naples Global Advisors LLC raised its position in shares of Ares Capital by 4.8% in the second quarter. Naples Global Advisors LLC now owns 67,790 shares of the investment management company’s stock valued at $1,216,000 after buying an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 36.31% of the company’s stock.

ARCC has been the subject of several research analyst reports. Compass Point downgraded shares of Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Zacks Investment Research upgraded shares of Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, August 26th. BidaskClub downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. BMO Capital Markets upgraded shares of Ares Capital from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $20.00 in a research report on Monday, August 19th. Finally, Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.83.

ARCC traded down $0.05 during trading on Friday, hitting $18.53. 1,217,600 shares of the stock traded hands, compared to its average volume of 1,741,632. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 11.03 and a beta of 0.59. The business has a 50 day moving average price of $18.52 and a 200 day moving average price of $18.26. Ares Capital Co. has a twelve month low of $14.50 and a twelve month high of $19.28.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $387.00 million for the quarter, compared to analysts’ expectations of $370.17 million. Ares Capital had a net margin of 49.90% and a return on equity of 10.97%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, equities research analysts predict that Ares Capital Co. will post 1.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date is Friday, December 13th. This is a boost from Ares Capital’s previous quarterly dividend of $0.40. Ares Capital’s dividend payout ratio is 95.24%.

In related news, Director Steve Bartlett acquired 14,177 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were bought at an average price of $18.35 per share, with a total value of $260,147.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven B. Mckeever acquired 5,425 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $18.42 per share, for a total transaction of $99,928.50. Following the transaction, the director now directly owns 24,795 shares in the company, valued at $456,723.90. The disclosure for this purchase can be found here. 0.53% of the stock is owned by corporate insiders.

Ares Capital 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.

Further Reading: Float

Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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