Ares Management LLC Reduces Holdings in Ares Capital Corporation (ARCC)
Ares Management LLC lowered its stake in Ares Capital Corporation (NASDAQ:ARCC) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,969,291 shares of the investment management company’s stock after selling 319,956 shares during the quarter. Ares Capital Corporation comprises approximately 0.8% of Ares Management LLC’s holdings, making the stock its 7th largest holding. Ares Management LLC’s holdings in Ares Capital Corporation were worth $32,256,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Shelton Capital Management raised its holdings in Ares Capital Corporation by 38.7% in the second quarter. Shelton Capital Management now owns 93,141 shares of the investment management company’s stock worth $1,526,000 after purchasing an additional 26,000 shares during the period. Partners Group Holding AG grew its holdings in shares of Ares Capital Corporation by 8.0% in the 2nd quarter. Partners Group Holding AG now owns 969,547 shares of the investment management company’s stock valued at $15,881,000 after buying an additional 71,500 shares during the period. Punch & Associates Investment Management Inc. acquired a new position in shares of Ares Capital Corporation in the 2nd quarter valued at $5,454,000. Optimum Investment Advisors grew its holdings in shares of Ares Capital Corporation by 0.5% in the 2nd quarter. Optimum Investment Advisors now owns 88,753 shares of the investment management company’s stock valued at $1,454,000 after buying an additional 460 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Ares Capital Corporation by 2.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 82,004 shares of the investment management company’s stock valued at $1,343,000 after buying an additional 2,051 shares during the period. 45.01% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. BidaskClub downgraded Ares Capital Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. TheStreet upgraded Ares Capital Corporation from a “c+” rating to a “b” rating in a report on Monday, August 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.50 target price on shares of Ares Capital Corporation in a research note on Friday, June 16th. CIBC began coverage on Ares Capital Corporation in a research note on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price for the company. Finally, BMO Capital Markets restated a “hold” rating and issued a $15.00 price target on shares of Ares Capital Corporation in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $17.95.
Ares Capital Corporation (NASDAQ:ARCC) traded down 0.091% during trading on Wednesday, reaching $16.415. The company’s stock had a trading volume of 362,875 shares. The stock’s 50-day moving average is $16.02 and its 200 day moving average is $16.58. Ares Capital Corporation has a 12 month low of $15.01 and a 12 month high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The business had revenue of $284.00 million during the quarter, compared to analyst estimates of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same period last year, the firm posted $0.50 earnings per share. Analysts anticipate that Ares Capital Corporation will post $1.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.25%. The ex-dividend date of this dividend was Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio (DPR) is 117.83%.
Ares Capital Corporation 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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