RFG Advisory Group LLC Increases Position in Ares Capital Corporation (ARCC)
RFG Advisory Group LLC boosted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 91.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,805 shares of the investment management company’s stock after buying an additional 21,870 shares during the period. RFG Advisory Group LLC’s holdings in Ares Capital Corporation were worth $752,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in Ares Capital Corporation by 16.2% in the first quarter. Penserra Capital Management LLC now owns 5,913 shares of the investment management company’s stock valued at $102,000 after buying an additional 825 shares during the period. Coconut Grove Bank boosted its stake in Ares Capital Corporation by 366.2% in the first quarter. Coconut Grove Bank now owns 6,480 shares of the investment management company’s stock valued at $113,000 after buying an additional 5,090 shares during the period. Global X Management Co. LLC boosted its stake in Ares Capital Corporation by 49.4% in the first quarter. Global X Management Co. LLC now owns 8,055 shares of the investment management company’s stock valued at $140,000 after buying an additional 2,664 shares during the period. Glassman Wealth Services purchased a new stake in Ares Capital Corporation during the first quarter valued at approximately $152,000. Finally, Grove Bank & Trust boosted its stake in Ares Capital Corporation by 45.4% in the second quarter. Grove Bank & Trust now owns 9,420 shares of the investment management company’s stock valued at $154,000 after buying an additional 2,940 shares during the period. 49.53% of the stock is owned by institutional investors.
Ares Capital Corporation (NASDAQ:ARCC) traded up 0.2030% during mid-day trading on Wednesday, reaching $16.0425. The company had a trading volume of 156,249 shares. The stock has a 50 day moving average price of $16.34 and a 200 day moving average price of $16.91. Ares Capital Corporation has a one year low of $15.01 and a one year high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. The business had revenue of $284 million during the quarter, compared to the consensus estimate of $297.77 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Analysts forecast that Ares Capital Corporation will post $1.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.49%. Ares Capital Corporation’s payout ratio is 117.83%.
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Several equities research analysts have recently commented on ARCC shares. TheStreet raised Ares Capital Corporation from a “c+” rating to a “b” rating in a research note on Monday, August 7th. National Securities reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ares Capital Corporation in a research note on Monday, August 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.50 price objective on shares of Ares Capital Corporation in a research note on Friday, June 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.50 price objective on shares of Ares Capital Corporation in a research note on Friday, July 14th. Finally, BidaskClub raised Ares Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.06.
Ares Capital Corporation Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as 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. It invests primarily in the United States middle-market companies.
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