Truvestments Capital LLC boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 59.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,988 shares of the investment management company’s stock after purchasing an additional 10,757 shares during the quarter. Truvestments Capital LLC’s holdings in Ares Capital were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp increased its holdings in Ares Capital by 8.7% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 3,445,079 shares of the investment management company’s stock worth $62,644,000 after purchasing an additional 276,401 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Ares Capital by 13.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,690,619 shares of the investment management company’s stock valued at $48,270,000 after acquiring an additional 311,400 shares in the last quarter. UBS Group AG boosted its position in Ares Capital by 11.1% during the 2nd quarter. UBS Group AG now owns 2,659,468 shares of the investment management company’s stock valued at $47,711,000 after acquiring an additional 264,632 shares in the last quarter. Van ECK Associates Corp boosted its position in Ares Capital by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,356,362 shares of the investment management company’s stock valued at $42,273,000 after acquiring an additional 64,715 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Ares Capital by 3.0% during the 2nd quarter. Bank of Montreal Can now owns 1,829,288 shares of the investment management company’s stock valued at $32,818,000 after acquiring an additional 53,954 shares in the last quarter. Institutional investors own 36.26% of the company’s stock.

NASDAQ ARCC traded down $0.03 during midday trading on Thursday, hitting $18.33. 1,381,783 shares of the company traded hands, compared to its average volume of 1,777,392. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $7.83 billion, a PE ratio of 10.91 and a beta of 0.59. The company’s 50-day simple moving average is $18.74 and its 200-day simple moving average is $18.08. Ares Capital Co. has a 52 week low of $14.50 and a 52 week high of $19.28.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $382.00 million for the quarter, compared to analysts’ expectations of $363.60 million. Ares Capital had a return on equity of 10.72% and a net margin of 53.81%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. On average, research analysts predict that Ares Capital Co. will post 1.86 earnings per share for the current year.

ARCC has been the topic of several recent research reports. Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, August 26th. ValuEngine cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Compass Point cut Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. BMO Capital Markets raised Ares Capital from a “market perform” rating to an “outperform” rating and increased their target price for the company from $19.00 to $20.00 in a research report on Monday, August 19th. Finally, BidaskClub cut Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.57.

In other Ares Capital news, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $18.44 per share, with a total value of $110,640.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven B. Mckeever acquired 5,425 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $18.42 per share, with a total value 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. Insiders bought a total of 13,425 shares of company stock valued at $247,289 in the last three months. 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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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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