Pinkerton Retirement Specialists LLC boosted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,745 shares of the investment management company’s stock after purchasing an additional 2,354 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Ares Capital were worth $2,848,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ARCC. Parallel Advisors LLC lifted its stake in Ares Capital by 656.9% in the first quarter. Parallel Advisors LLC now owns 1,582 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,373 shares during the last quarter. Ropes Wealth Advisors LLC acquired a new position in Ares Capital during the second quarter worth $27,000. Weaver Consulting Group acquired a new position in Ares Capital during the first quarter worth $29,000. Nordea Investment Management AB grew its holdings in Ares Capital by 50.9% during the first quarter. Nordea Investment Management AB now owns 1,684 shares of the investment management company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Finally, Howe & Rusling Inc. acquired a new position in Ares Capital during the first quarter worth $33,000. 36.94% of the stock is owned by hedge funds and other institutional investors.
Ares Capital stock traded down $0.21 during trading hours on Friday, hitting $18.68. The stock had a trading volume of 610,386 shares, compared to its average volume of 1,825,817. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 11.12 and a beta of 0.61. Ares Capital Co. has a 1-year low of $14.50 and a 1-year high of $19.02. The stock’s fifty day moving average is $18.35 and its two-hundred day moving average is $17.70.
A number of research analysts recently weighed in on ARCC shares. Compass Point lowered Ares Capital from a “buy” rating to a “neutral” rating in a report on Friday. BMO Capital Markets raised Ares Capital from a “market perform” rating to an “outperform” rating and upped their target price for the company from $19.00 to $20.00 in a report on Monday. Wedbush set a $20.00 target price on Ares Capital and gave the company a “buy” rating in a report on Tuesday, May 14th. National Securities reissued a “buy” rating and issued a $20.00 target price on shares of Ares Capital in a report on Wednesday, May 1st. Finally, Raymond James upped their target price on Ares Capital from $19.00 to $19.50 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.38.
In related news, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $18.44 per share, with a total value of $110,640.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Mckeever acquired 5,425 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $18.42 per share, for a total transaction of $99,928.50. Following the purchase, the director now owns 24,795 shares of the company’s stock, valued at $456,723.90. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 18,125 shares of company stock worth $331,934. Corporate insiders own 0.53% of the company’s stock.
About Ares Capital
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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