Sheaff Brock Investment Advisors LLC Acquires 594 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 56,776 shares of the investment management company’s stock after purchasing an additional 594 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Ares Capital were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARCC. Two Sigma Investments LP boosted its stake in shares of Ares Capital by 81.0% during the 4th quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company’s stock worth $58,633,000 after acquiring an additional 1,198,580 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ares Capital by 26.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company’s stock worth $93,439,000 after acquiring an additional 881,450 shares during the period. Bank of America Corp DE boosted its stake in Ares Capital by 12.3% in the 4th quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company’s stock valued at $174,068,000 after purchasing an additional 871,370 shares during the period. Two Sigma Advisers LP boosted its stake in Ares Capital by 189.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,302,501 shares of the investment management company’s stock valued at $28,512,000 after purchasing an additional 852,801 shares during the period. Finally, Spinnaker Trust bought a new stake in Ares Capital in the 1st quarter valued at $11,390,000. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. B. Riley upgraded Ares Capital to a “hold” rating in a research note on Monday, June 16th. JPMorgan Chase & Co. reduced their price target on Ares Capital from $24.50 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. UBS Group boosted their price target on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reduced their price target on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.21.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $22.70 on Tuesday. The stock has a market capitalization of $15.76 billion, a PE ratio of 11.07 and a beta of 0.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. The business has a fifty day moving average price of $22.18 and a two-hundred day moving average price of $22.04. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. Ares Capital’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, equities analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

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.