Tower Research Capital LLC TRC Has $29,000 Holdings in Ares Capital Co. (NASDAQ:ARCC)

Tower Research Capital LLC TRC lowered its holdings in Ares Capital Co. (NASDAQ:ARCC) by 83.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,439 shares of the investment management company’s stock after selling 7,485 shares during the period. Tower Research Capital LLC TRC’s holdings in Ares Capital were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCC. Nemes Rush Group LLC acquired a new stake in shares of Ares Capital in the 4th quarter valued at approximately $25,000. Pingora Partners LLC acquired a new position in shares of Ares Capital during the 4th quarter worth about $30,000. First Horizon Advisors Inc. raised its holdings in shares of Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 931 shares during the period. Cape Investment Advisory Inc. lifted its stake in Ares Capital by 411.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Ares Capital by 218.7% during the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after purchasing an additional 1,345 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of ARCC traded up $0.07 during midday trading on Friday, reaching $20.61. 2,902,245 shares of the stock were exchanged, compared to its average volume of 2,632,858. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The stock’s 50 day simple moving average is $20.42 and its 200 day simple moving average is $20.06. Ares Capital Co. has a twelve month low of $17.53 and a twelve month high of $21.00. The company has a market cap of $12.53 billion, a P/E ratio of 7.06 and a beta of 0.99.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The business had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. During the same quarter last year, the firm earned $0.56 EPS. Ares Capital’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date is Thursday, June 13th. Ares Capital’s dividend payout ratio is currently 65.75%.

Analysts Set New Price Targets

Several analysts have issued reports on ARCC shares. Oppenheimer upped their price objective on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Monday, January 8th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Finally, Truist Financial upped their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.43.

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.