Truvestments Capital LLC Has $3.43 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Truvestments Capital LLC increased its stake in Ares Capital Co. (NASDAQ:ARCC) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 163,884 shares of the investment management company’s stock after purchasing an additional 8,418 shares during the period. Ares Capital makes up 0.9% of Truvestments Capital LLC’s holdings, making the stock its 26th biggest holding. Truvestments Capital LLC’s holdings in Ares Capital were worth $3,432,000 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. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Ares Capital by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock valued at $18,540,000 after buying an additional 38,559 shares in the last quarter. Confluence Investment Management LLC raised its position in Ares Capital by 1.7% during the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after purchasing an additional 63,999 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in Ares Capital by 32.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company’s stock worth $4,435,000 after purchasing an additional 52,007 shares during the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of Ares Capital by 151.4% in the 2nd quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock valued at $952,000 after purchasing an additional 27,523 shares in the last quarter. Finally, Sigma Investment Counselors Inc. boosted its holdings in shares of Ares Capital by 4.6% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company’s stock valued at $14,275,000 after purchasing an additional 29,786 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Up 0.4 %

Shares of NASDAQ ARCC opened at $22.11 on Monday. The stock has a market cap of $14.28 billion, a P/E ratio of 8.47 and a beta of 1.01. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $22.11. The firm has a 50 day moving average price of $21.22 and a two-hundred day moving average price of $21.04. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.68%. Ares Capital’s dividend payout ratio is currently 73.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ARCC. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. B. Riley increased their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

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.