Ngam Advisors L.P. Decreases Stake in Ares Capital Corp. (ARCC)
Ngam Advisors L.P. lowered its stake in Ares Capital Corp. (NASDAQ:ARCC) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 597,761 shares of the investment management company’s stock after selling 19,351 shares during the period. Ngam Advisors L.P.’s holdings in Ares Capital Corp. were worth $9,266,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCC. Bronfman E.L. Rothschild L.P. increased its position in shares of Ares Capital Corp. by 2.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 11,727 shares of the investment management company’s stock worth $182,000 after buying an additional 327 shares in the last quarter. US Bancorp DE boosted its stake in Ares Capital Corp. by 1.4% in the third quarter. US Bancorp DE now owns 57,749 shares of the investment management company’s stock worth $896,000 after buying an additional 777 shares during the last quarter. Homrich & Berg boosted its stake in Ares Capital Corp. by 2.4% in the third quarter. Homrich & Berg now owns 51,789 shares of the investment management company’s stock worth $803,000 after buying an additional 1,207 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Ares Capital Corp. by 9.6% in the third quarter. Confluence Investment Management LLC now owns 4,202,302 shares of the investment management company’s stock worth $65,136,000 after buying an additional 367,393 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. boosted its stake in Ares Capital Corp. by 1.7% in the third quarter. Westbourne Investment Advisors Inc. now owns 119,377 shares of the investment management company’s stock worth $1,850,000 after buying an additional 2,032 shares during the last quarter. Institutional investors own 52.31% of the company’s stock.
Shares of Ares Capital Corp. (NASDAQ:ARCC) traded up 0.094% during trading on Tuesday, hitting $15.965. The stock had a trading volume of 908,944 shares. The stock’s 50-day moving average is $15.46 and its 200-day moving average is $15.20. Ares Capital Corp. has a 12-month low of $12.31 and a 12-month high of $16.43.
Ares Capital Corp. (NASDAQ:ARCC) last posted its earnings results on Wednesday, November 2nd. The investment management company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. Ares Capital Corp. had a return on equity of 9.57% and a net margin of 40.83%. During the same period last year, the firm earned $0.41 EPS. Equities analysts forecast that Ares Capital Corp. will post $1.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.36%. The ex-dividend date is Tuesday, December 13th. Ares Capital Corp.’s dividend payout ratio (DPR) is presently 115.15%.
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A number of analysts have recently weighed in on the company. Zacks Investment Research raised Ares Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, November 22nd. National Securities reissued a “neutral” rating and issued a $16.00 price objective on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Janney Montgomery Scott assumed coverage on Ares Capital Corp. in a research report on Monday, October 31st. They issued a “neutral” rating and a $16.50 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Finally, Barclays PLC reissued a “buy” rating on shares of Ares Capital Corp. in a research report on Thursday, November 3rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.81.
About Ares Capital Corp.
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.
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