Hilton Capital Management LLC Raises Stake in Ares Capital Co. (NASDAQ:ARCC)

by · The Markets Daily

Hilton Capital Management LLC grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC – Free Report) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 357,173 shares of the investment management company’s stock after acquiring an additional 8,012 shares during the period. Hilton Capital Management LLC owned about 0.06% of Ares Capital worth $7,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARCC. Jamison Private Wealth Management Inc. lifted its stake in Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares during the period. Asset Dedication LLC purchased a new stake in shares of Ares Capital during the 2nd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in Ares Capital in the second quarter valued at about $32,000. nVerses Capital LLC raised its holdings in Ares Capital by 88.9% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after purchasing an additional 800 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Ares Capital in the second quarter valued at approximately $42,000. Institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARCC. B. Riley raised their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Get Our Latest Stock Analysis on Ares Capital

Ares Capital Trading Up 0.7 %

Shares of ARCC stock opened at $21.83 on Wednesday. The company has a 50-day moving average of $21.14 and a two-hundred day moving average of $21.02. The firm has a market cap of $14.10 billion, a PE ratio of 8.40 and a beta of 1.01. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.05. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29.

Ares Capital (NASDAQ:ARCC – Get Free Report) last posted its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the company posted $0.59 EPS. Ares Capital’s revenue was up 15.3% on a year-over-year basis. On average, analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.80%. Ares Capital’s dividend payout ratio (DPR) is 73.85%.

Ares Capital Company Profile

(Free Report)

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.

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