Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Palogic Value Management L.P.

Palogic Value Management L.P. grew its holdings in Ares Capital Co. (NASDAQ:ARCC) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 104,565 shares of the investment management company’s stock after buying an additional 4,970 shares during the quarter. Palogic Value Management L.P.’s holdings in Ares Capital were worth $2,289,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in Ares Capital in the fourth quarter valued at $35,000. Promus Capital LLC purchased a new position in shares of Ares Capital in the 4th quarter valued at about $48,000. SRS Capital Advisors Inc. acquired a new position in shares of Ares Capital during the fourth quarter worth about $60,000. Montag A & Associates Inc. increased its stake in shares of Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after buying an additional 1,389 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in Ares Capital by 200.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock valued at $66,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Price Performance

ARCC stock opened at $22.11 on Friday. The business has a 50 day simple moving average of $22.80 and a 200-day simple moving average of $21.97. The company has a market capitalization of $15.07 billion, a P/E ratio of 9.02 and a beta of 1.00. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. As a group, equities analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.68%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 78.37%.

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.