Pinebridge Investments L.P. Has $1.36 Million Stake in Ares Capital Co. (ARCC)
Pinebridge Investments L.P. lifted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 26.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,854 shares of the investment management company’s stock after buying an additional 17,428 shares during the quarter. Pinebridge Investments L.P.’s holdings in Ares Capital were worth $1,358,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Penserra Capital Management LLC grew its holdings in Ares Capital by 8.9% during the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 526 shares during the period. Hudock Capital Group LLC grew its holdings in Ares Capital by 3.2% during the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 200 shares during the period. Ffcm LLC grew its holdings in Ares Capital by 218.9% during the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after purchasing an additional 4,695 shares during the period. Legacy Advisors LLC acquired a new position in Ares Capital during the third quarter valued at approximately $128,000. Finally, Joel Isaacson & Co. LLC acquired a new position in Ares Capital during the third quarter valued at approximately $164,000. Institutional investors own 43.70% of the company’s stock.
Shares of Ares Capital Co. (NASDAQ:ARCC) opened at $16.28 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. The company has a market cap of $6,970.00, a price-to-earnings ratio of 11.18, a PEG ratio of 3.89 and a beta of 0.63. Ares Capital Co. has a 1 year low of $15.48 and a 1 year high of $17.87.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million for the quarter, compared to analyst estimates of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same quarter in the previous year, the firm posted $0.43 earnings per share. research analysts forecast that Ares Capital Co. will post 1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.34%. The ex-dividend date of this dividend is Thursday, December 14th. Ares Capital’s dividend payout ratio is presently 120.63%.
In other Ares Capital news, Director Michael J. Arougheti acquired 8,365 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 8,965 shares of company stock worth $142,323. 0.45% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday. Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital and gave the company a “buy” rating in a research note on Friday, October 6th. Compass Point initiated coverage on shares of Ares Capital in a research note on Wednesday. They issued a “buy” rating and a $17.50 price target on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $19.50 price target on shares of Ares Capital in a research note on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.00.
Ares Capital Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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