Lake Street Advisors Group LLC Has $293,000 Stake in Ares Capital Co. (NASDAQ:ARCC)

Lake Street Advisors Group LLC cut its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 37.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,000 shares of the investment management company’s stock after selling 8,250 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Ares Capital were worth $293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SteelPeak Wealth LLC bought a new stake in Ares Capital in the first quarter valued at approximately $378,000. Chapin Davis Inc. increased its position in shares of Ares Capital by 2.2% during the first quarter. Chapin Davis Inc. now owns 22,966 shares of the investment management company’s stock worth $478,000 after buying an additional 501 shares during the period. Mirador Capital Partners LP raised its stake in Ares Capital by 4.5% during the first quarter. Mirador Capital Partners LP now owns 225,752 shares of the investment management company’s stock worth $4,700,000 after buying an additional 9,750 shares during the last quarter. BKM Wealth Management LLC boosted its position in Ares Capital by 5.6% during the first quarter. BKM Wealth Management LLC now owns 39,261 shares of the investment management company’s stock valued at $817,000 after acquiring an additional 2,096 shares during the last quarter. Finally, O ROURKE & COMPANY Inc acquired a new stake in Ares Capital during the 1st quarter worth about $251,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $21.58 on Friday. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 7.39 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Co. has a fifty-two week low of $18.59 and a fifty-two week high of $21.84. The firm’s 50-day simple moving average is $20.96 and its 200 day simple moving average is $20.91.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, research analysts anticipate that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.90%. Ares Capital’s dividend payout ratio is currently 65.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ARCC shares. JMP Securities upped their target price on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Finally, Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Company 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.