Palogic Value Management L.P. Has $2.29 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Palogic Value Management L.P. boosted its position in Ares Capital Co. (NASDAQ:ARCC) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,565 shares of the investment management company’s stock after buying an additional 4,970 shares during the quarter. Palogic Value Management L.P.’s holdings in Ares Capital were worth $2,289,000 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. World Investment Advisors increased its holdings in shares of Ares Capital by 4.1% during the 4th quarter. World Investment Advisors now owns 12,521 shares of the investment management company’s stock worth $274,000 after acquiring an additional 488 shares during the last quarter. Fiduciary Group LLC increased its holdings in shares of Ares Capital by 2.3% during the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company’s stock worth $478,000 after acquiring an additional 500 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock worth $1,230,000 after acquiring an additional 512 shares during the last quarter. Western Financial Corp CA increased its holdings in shares of Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after acquiring an additional 564 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its holdings in shares of Ares Capital by 3.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock worth $360,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARCC. Keefe, Bruyette & Woods decreased their target price on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on Ares Capital from $24.50 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Ares Capital Stock Performance

ARCC opened at $21.97 on Wednesday. The business has a fifty day simple moving average of $21.05 and a 200 day simple moving average of $21.92. The company has a market capitalization of $15.25 billion, a PE ratio of 8.97 and a beta of 0.70. Ares Capital Co. has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $769.32 million. Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Research analysts expect that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.74%. Ares Capital’s payout ratio is 93.66%.

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.