Perennial Advisors LLC Purchases Shares of 81,717 Ares Capital Corporation (ARCC)

Perennial Advisors LLC bought a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the fourth quarter, Holdings Channel reports. The fund bought 81,717 shares of the investment management company’s stock, valued at approximately $1,348,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARCC. NEXT Financial Group Inc increased its stake in shares of Ares Capital Corporation by 5,197.6% in the third quarter. NEXT Financial Group Inc now owns 6,622 shares of the investment management company’s stock valued at $103,000 after buying an additional 6,497 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Ares Capital Corporation during the fourth quarter valued at about $130,000. Hudock Capital Group LLC increased its stake in shares of Ares Capital Corporation by 2.1% in the second quarter. Hudock Capital Group LLC now owns 9,641 shares of the investment management company’s stock valued at $136,000 after buying an additional 200 shares during the period. Brouwer & Janachowski LLC acquired a new stake in shares of Ares Capital Corporation during the third quarter valued at about $155,000. Finally, Alpha Omega Wealth Management LLC increased its stake in shares of Ares Capital Corporation by 2.0% in the second quarter. Alpha Omega Wealth Management LLC now owns 11,014 shares of the investment management company’s stock valued at $156,000 after buying an additional 214 shares during the period. 39.07% of the stock is currently owned by institutional investors and hedge funds.

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

Ares Capital Corporation (NASDAQ:ARCC) traded up 0.06% during trading on Tuesday, reaching $17.59. The company had a trading volume of 4,441,906 shares. Ares Capital Corporation has a 52 week low of $12.63 and a 52 week high of $17.62. The company’s 50-day moving average is $16.92 and its 200 day moving average is $15.98.

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A number of research firms have issued reports on ARCC. Zacks Investment Research raised Ares Capital Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, November 15th. Janney Montgomery Scott began coverage on Ares Capital Corporation in a research note on Monday, October 31st. They issued a “neutral” rating and a $16.50 price objective on the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of Ares Capital Corporation in a research note on Wednesday, January 4th. JMP Securities reissued a “buy” rating on shares of Ares Capital Corporation in a research report on Thursday, November 3rd. Finally, National Securities reissued a “neutral” rating and set a $16.00 target price on shares of Ares Capital Corporation in a research report on Monday, January 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ares Capital Corporation presently has a consensus rating of “Buy” and an average price target of $17.19.

Ares Capital Corporation Company Profile

Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in the United States middle-market companies.

5 Day Chart for NASDAQ:ARCC

Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Corporation (NASDAQ:ARCC).

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