Taylor Frigon Capital Management LLC Has $970,000 Holdings in Ares Capital Co. (NASDAQ:ARCC)

Taylor Frigon Capital Management LLC lessened its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,985 shares of the investment management company’s stock after selling 632 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Ares Capital were worth $970,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Confluence Investment Management LLC raised its stake in Ares Capital by 1.1% during the third quarter. Confluence Investment Management LLC now owns 5,041,733 shares of the investment management company’s stock worth $93,953,000 after buying an additional 55,668 shares during the last quarter. UBS Group AG raised its stake in Ares Capital by 11.1% during the second quarter. UBS Group AG now owns 2,659,468 shares of the investment management company’s stock worth $47,711,000 after buying an additional 264,632 shares during the last quarter. Advisors Capital Management LLC raised its stake in Ares Capital by 6.0% during the fourth quarter. Advisors Capital Management LLC now owns 1,905,360 shares of the investment management company’s stock worth $35,535,000 after buying an additional 107,077 shares during the last quarter. Sound Income Strategies LLC raised its stake in Ares Capital by 10.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,594,393 shares of the investment management company’s stock worth $29,735,000 after buying an additional 144,407 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in Ares Capital by 1.0% during the third quarter. Stifel Financial Corp now owns 1,228,941 shares of the investment management company’s stock worth $22,931,000 after buying an additional 12,225 shares during the last quarter. Institutional investors own 34.99% of the company’s stock.

ARCC traded down $0.20 during midday trading on Friday, hitting $18.92. The company had a trading volume of 52,383 shares, compared to its average volume of 1,641,907. Ares Capital Co. has a 52 week low of $15.93 and a 52 week high of $19.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 10.87 and a beta of 0.58. The stock’s 50 day moving average price is $18.73 and its 200 day moving average price is $18.60.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, October 30th. The investment management company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $387.00 million during the quarter, compared to the consensus estimate of $370.17 million. Ares Capital had a net margin of 49.90% and a return on equity of 10.97%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts predict that Ares Capital Co. will post 1.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.42 per share. The ex-dividend date was Friday, December 13th. This is an increase from Ares Capital’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 8.88%. Ares Capital’s payout ratio is presently 95.24%.

Several equities research analysts have weighed in on ARCC shares. Royal Bank of Canada started coverage on shares of Ares Capital in a research note on Tuesday, November 12th. They issued an “outperform” rating and a $20.00 price target for the company. Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. BidaskClub downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Finally, ValuEngine raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Ares Capital currently has an average rating of “Buy” and an average target price of $19.86.

In other Ares Capital news, Director Steven B. Mckeever bought 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average cost of $18.74 per share, with a total value of $56,220.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steve Bartlett bought 14,177 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were acquired at an average cost of $18.35 per share, with a total value of $260,147.95. The disclosure for this purchase can be found here. Insiders own 0.53% of the company’s stock.

Ares Capital 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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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