Orion Portfolio Solutions LLC Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)
Orion Portfolio Solutions LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,899 shares of the investment management company’s stock, valued at approximately $166,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC boosted its position in shares of Ares Capital by 5.5% in the 4th quarter. DAVENPORT & Co LLC now owns 130,533 shares of the investment management company’s stock worth $2,434,000 after purchasing an additional 6,836 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Ares Capital by 770.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 45,115 shares of the investment management company’s stock valued at $841,000 after purchasing an additional 39,933 shares during the period. SeaCrest Wealth Management LLC raised its stake in shares of Ares Capital by 27.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 15,728 shares of the investment management company’s stock valued at $293,000 after purchasing an additional 3,367 shares during the period. Colony Group LLC acquired a new stake in shares of Ares Capital in the 3rd quarter valued at about $325,000. Finally, Sargent Investment Group LLC raised its stake in shares of Ares Capital by 8.0% in the 4th quarter. Sargent Investment Group LLC now owns 389,093 shares of the investment management company’s stock valued at $7,257,000 after purchasing an additional 28,954 shares during the period. 34.51% of the stock is currently owned by institutional investors.
ARCC has been the topic of a number of recent research reports. Wells Fargo & Co lowered their target price on Ares Capital from $20.50 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday. BidaskClub downgraded Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. TheStreet downgraded Ares Capital from a “b” rating to a “c+” rating in a research report on Wednesday, March 18th. Finally, ValuEngine raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Ares Capital presently has a consensus rating of “Buy” and an average target price of $19.21.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, February 12th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Ares Capital had a return on equity of 10.89% and a net margin of 51.90%. The business had revenue of $386.00 million during the quarter, compared to analysts’ expectations of $387.39 million. During the same period in the previous year, the company posted $0.45 earnings per share. Research analysts forecast that Ares Capital Co. will post 1.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.60 annualized dividend and a yield of 14.29%. Ares Capital’s dividend payout ratio is currently 84.66%.
In other news, Director Steven B. Mckeever acquired 3,375 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $14.57 per share, for a total transaction of $49,173.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by insiders.
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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