CCLA Investment Management Ltd holds a $78 million equity position in Ares Capital Co. (NASDAQ:ARCC)

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CCLA Investment Management Ltd increased its stake in the shares of Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 16.1% during the 1st quarter, reports Holdings Channel.com. The company held 3,722,916 shares of the investment management firm after purchasing an additional 516,711 shares during the quarter. CCLA Investment Management Ltd’s holdings in Ares Capital were worth $77,995,000 when it last filed with the SEC.

Several other institutional investors have also recently changed their positions in ARCC. Annapolis Financial Services LLC increased its position in Ares Capital shares by 15.4% during the first quarter. Annapolis Financial Services LLC now owns 5,278 shares of the investment management company worth $111,000 after acquiring 706 additional shares in the last quarter. Naples Global Advisors LLC increased its position in Ares Capital shares by 2.7% during the first quarter. Naples Global Advisors LLC now owns 61,472 shares of the investment management firm worth $1,288,000 after acquiring 1,610 additional shares in the last quarter. Alphastar Capital Management LLC increased its position in Ares Capital shares by 40.3% during the first quarter. Alphastar Capital Management LLC now owns 50,988 shares of the investment management company worth $1,068,000 after acquiring 14,633 additional shares last quarter. Belpointe Asset Management LLC increased its position in Ares Capital shares by 19.7% during the first quarter. Belpointe Asset Management LLC now owns 45,660 shares of the investment management company worth $957,000 after acquiring an additional 7,518 shares in the last quarter. Finally, Keybank National Association OH increased its position in Ares Capital shares by 5.3% during the first quarter. Keybank National Association OH now owns 23,958 shares of the investment management firm worth $502,000 after acquiring 1,200 additional shares in the last quarter. Institutional investors and hedge funds hold 29.44% of the company’s shares.

Insider activity

In other Ares Capital news, insider Michael Lewis Smith bought 54,000 shares of the company in a trade that took place on Thursday, May 19. The shares were purchased at an average cost of $18.64 per share, for a total transaction of $1,006,560.00. Following the purchase, the insider now owns 89,000 shares of the company, valued at approximately $1,658,960. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Ares Capital news, insider Michael Lewis Smith bought 54,000 shares of the company in a trade that took place on Thursday, May 19. The shares were purchased at an average cost of $18.64 per share, for a total transaction of $1,006,560.00. Following the purchase, the insider now owns 89,000 shares of the company, valued at approximately $1,658,960. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Michael J. Arougheti purchased 300,000 shares of the company in a transaction that took place on Tuesday, June 14. The shares were acquired at an average price of $17.75 per share, for a total transaction of $5,325,000.00. Following the completion of the purchase, the executive vice president now directly owns 1,782,709 shares of the company, valued at approximately $31,643,084.75. Disclosure of this purchase can be found here. Insiders have purchased 356,775 shares of the company valued at $6,381,371 over the past three months. Insiders of the company own 0.59% of the shares of the company.

Ares share capital up 1.0%

Shares of Ares Capital opened at $19.74 on Thursday. Ares Capital Co. has a 12-month low of $17.03 and a 12-month high of $23.00. The company has a 50-day moving average price of $18.77 and a 200-day moving average price of $20.31. The company has a market capitalization of $9.73 billion, a P/E ratio of 6.41 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.

Ares Capital (NASDAQ:ARCC – Get Rating) last released its results on Tuesday, July 26. The investment management firm reported earnings per share of $0.46 for the quarter, beating consensus analyst estimates of $0.44 by $0.02. Ares Capital had a net margin of 75.13% and a return on equity of 10.23%. In the same quarter a year earlier, the company posted earnings per share of $0.53. As a group, stock analysts predict Ares Capital Co. to post EPS of 1.77 for the current year.

Analyst upgrades and downgrades

Several equity research analysts have recently commented on ARCC shares. The Hovde Group lowered its target price on Ares Capital shares to $19.00 in a Friday, May 20 research report. JPMorgan Chase & Co. upgraded Ares Capital shares from a “neutral” rating to an “overweight” rating and set a price target of $22.00 for the company in a Wednesday 27 research report. april. TheStreet downgraded shares of Ares Capital from a “b-” rating to a “c+” rating in a Monday, May 23 research report. Oppenheimer cut his price target on Ares Capital shares to $21.00 and set an “outperform” rating for the company in a research report Wednesday. Finally, Wells Fargo & Company raised its price target on Ares Capital shares from $22.50 to $23.00 and gave the stock an “overweight” rating in a Monday 25 research report. april. One investment analyst gave the stock a hold rating and eight gave the company’s stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.88.

Ares Capital Profile

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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.

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Want to see which other hedge funds hold ARCC? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Ares Capital Co. (NASDAQ:ARCC – Get Rating).

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



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