Ares Capital Co. (ARCC) Shares Bought by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,500 shares of the investment management company’s stock after acquiring an additional 17,247 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Ares Capital were worth $8,481,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ARCC. Alliancebernstein L.P. boosted its holdings in Ares Capital by 7.1% during the 2nd quarter. Alliancebernstein L.P. now owns 60,050 shares of the investment management company’s stock valued at $984,000 after acquiring an additional 3,970 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Ares Capital by 3.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 152,665 shares of the investment management company’s stock valued at $2,501,000 after acquiring an additional 5,330 shares during the period. Verition Fund Management LLC boosted its holdings in Ares Capital by 28.3% during the 2nd quarter. Verition Fund Management LLC now owns 43,212 shares of the investment management company’s stock valued at $708,000 after acquiring an additional 9,540 shares during the period. Cetera Investment Advisers purchased a new position in Ares Capital during the 2nd quarter valued at about $476,000. Finally, Intl Fcstone Inc. purchased a new position in Ares Capital during the 2nd quarter valued at about $1,084,000. Institutional investors own 43.62% of the company’s stock.
Ares Capital Co. (ARCC) opened at $15.91 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $6,641.74, a PE ratio of 12.53, a PEG ratio of 3.32 and a beta of 0.62. Ares Capital Co. has a 52 week low of $15.03 and a 52 week high of $17.87.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.55%. The ex-dividend date is Wednesday, March 14th. Ares Capital’s payout ratio is presently 119.69%.
ARCC has been the subject of a number of research analyst reports. Jefferies Group restated a “buy” rating and set a $19.50 target price on shares of Ares Capital in a report on Friday, November 3rd. National Securities restated a “buy” rating and set a $19.00 target price on shares of Ares Capital in a report on Friday, November 3rd. Zacks Investment Research cut Ares Capital from a “hold” rating to a “sell” rating in a report on Monday, November 6th. TheStreet cut Ares Capital from a “b” rating to a “c+” rating in a report on Monday, November 13th. Finally, Wedbush initiated coverage on Ares Capital in a report on Monday, November 27th. They set an “outperform” rating and a $18.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Ares Capital currently has an average rating of “Buy” and an average price target of $18.00.
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Ares Capital Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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