Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by Cerity Partners LLC


Cerity Partners LLC increased its stake in Ares Capital Co. (NASDAQ: ARCCGet a rating) by 46.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The company held 36,364 shares of the investment management company after acquiring 11,494 additional shares during the quarter. Cerity Partners LLC’s holdings in Ares Capital were worth $762,000 at the end of the last quarter.

Other institutional investors and hedge funds also bought and sold shares of the company. Atticus Wealth Management LLC increased its position in Ares Capital by 88.1% in the 4th quarter. Atticus Wealth Management LLC now owns 1,482 shares of the investment management company valued at $31,000 after acquiring an additional 694 shares during the period. Steph & Co. acquired a new stake in Ares Capital in Q4 worth approximately $42,000. Western Pacific Wealth Management LP bought a new position in Ares Capital during the 4th quarter at a value of $47,000. West Bancorporation Inc. bought a new position in Ares Capital during the 4th quarter at a value of $47,000. Finally, Samalin Investment Counsel LLC increased its stake in Ares Capital by 83.7% during the 4th quarter. Samalin Investment Counsel LLC now owns 2,750 shares of the investment management company valued at $58,000 after buying 1,253 additional shares last quarter. Hedge funds and other institutional investors own 29.44% of the company’s shares.

CRAC opened at $19.02 on Monday. The company has a market capitalization of $9.37 billion, a PE ratio of 6.18 and a beta of 0.99. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt ratio of 1.13. The company has a fifty-day simple moving average of $18.89 and a 200-day simple moving average of $20.45. Ares Capital Co. has a fifty-two week low of $17.03 and a fifty-two week high of $23.00.

Ares Capital (NASDAQ: ARCCGet a rating) last reported results on Tuesday, April 26. The investment management firm reported EPS of $0.41 for the quarter, missing the consensus estimate of $0.47 per ($0.06). The company posted revenue of $440.00 million in the quarter, versus analyst estimates of $486.12 million. Ares Capital had a return on equity of 10.23% and a net margin of 75.13%. The company’s quarterly revenue increased 12.8% year over year. During the same period last year, the company achieved EPS of $0.43. On average, equity research analysts expect Ares Capital Co. to post EPS of 1.77 for the current fiscal year.

In other news, EVP Michael J. Arougheti acquired 300,000 shares of the company in a transaction that took place on Tuesday, June 14. The shares were acquired at an average cost of $17.75 per share, for a total transaction of $5,325,000.00. Following the completion of the acquisition, the executive vice president now owns 1,782,709 shares of the company, valued at $31,643,084.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, insider Michael Lewis Smith acquired 54,000 shares of the company in a transaction that took place on Thursday, May 19. The shares were purchased at an average price of $18.64 per share, with a total value of $1,006,560.00. Following the completion of the acquisition, the insider now owns 89,000 shares of the company, valued at approximately $1,658,960. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 356,775 shares of the company valued at $6,381,371. 0.59% of the shares are currently held by insiders.

ARCC has been the subject of several research reports. Hovde Group reduced its price target on Ares Capital to $19.00 in a Friday May 20 research note. StockNews.com upgraded Ares Capital from a “sell” to a “hold” rating in a Wednesday, June 22 research note. Wells Fargo & Company raised its price target on Ares Capital from $22.50 to $23.00 and gave the company an “overweight” rating in a Monday, April 25 research note. JPMorgan Chase & Co. upgraded Ares Capital from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a Wednesday, April 27 research note. Finally, TheStreet downgraded Ares Capital from a “b-” rating to a “c+” rating in a Monday, May 23 research note. One research analyst gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

About Ares Capital (Get a rating)

Ares Capital Corporation is a business development firm specializing in the acquisition, recapitalization, mezzanine debt, restructurings, rescue financing and leveraged buyout transactions of middle market companies. He also does growth capital and general refinancing. He prefers to invest in companies active in basic and growth manufacturing, business services, consumer products, healthcare products and services, and information technology services.

See also

Institutional ownership by quarter for Ares Capital (NASDAQ:ARCC)



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