World Investment Advisors LLC Makes New $252,000 Investment in Ares Capital Co. (NASDAQ:ARCC)

World Investment Advisors LLC purchased a new stake in Ares Capital Co. (NASDAQ:ARCC) during the third quarter, HoldingsChannel.com reports. The firm purchased 12,033 shares of the investment management company’s stock, valued at approximately $252,000.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Ares Capital by 8.3% in the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after buying an additional 975,045 shares during the period. Confluence Investment Management LLC increased its stake in shares of Ares Capital by 1.7% in the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after acquiring an additional 63,999 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after acquiring an additional 3,449,395 shares during the period. LPL Financial LLC boosted its stake in Ares Capital by 8.5% during the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock worth $72,778,000 after acquiring an additional 273,025 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Ares Capital by 3.7% during the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock valued at $46,430,000 after purchasing an additional 79,074 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, B. Riley raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.29.

Ares Capital Stock Down 1.8 %

ARCC stock opened at $20.92 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $13.52 billion, a P/E ratio of 8.05 and a beta of 1.01. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $22.43. The business has a 50-day moving average of $21.65 and a 200-day moving average of $21.13.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same period last year, the company earned $0.59 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given 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 9.18%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Ares Capital Profile

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.