Rational Advisors LLC Purchases New Stake in Ares Capital Corporation (ARCC)
Rational Advisors LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 107,545 shares of the investment management company’s stock, valued at approximately $1,762,000. Ares Capital Corporation accounts for approximately 0.9% of Rational Advisors LLC’s holdings, making the stock its 25th largest holding.
A number of other hedge funds have also modified their holdings of ARCC. Principal Financial Group Inc. lifted its position in shares of Ares Capital Corporation by 174.6% during the 2nd quarter. Principal Financial Group Inc. now owns 5,725,346 shares of the investment management company’s stock worth $93,782,000 after purchasing an additional 3,640,124 shares during the last quarter. Elliott Management Corp purchased a new stake in shares of Ares Capital Corporation during the 2nd quarter worth $18,343,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Ares Capital Corporation during the 2nd quarter worth $16,501,000. Koch Industries Inc. lifted its position in shares of Ares Capital Corporation by 7,292.7% during the 2nd quarter. Koch Industries Inc. now owns 861,474 shares of the investment management company’s stock worth $812,000 after purchasing an additional 849,821 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Ares Capital Corporation by 41.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,473,027 shares of the investment management company’s stock worth $24,128,000 after purchasing an additional 432,303 shares during the last quarter. 43.90% of the stock is owned by institutional investors.
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Ares Capital Corporation (ARCC) traded down $0.07 during midday trading on Monday, reaching $16.33. 405,156 shares of the company’s stock were exchanged, compared to its average volume of 2,080,408. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7,000.00, a price-to-earnings ratio of 11.39, a PEG ratio of 3.96 and a beta of 0.63. Ares Capital Corporation has a one year low of $15.48 and a one year high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last posted its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $294.00 million for the quarter, compared to analyst estimates of $295.02 million. Ares Capital Corporation had a net margin of 45.78% and a return on equity of 8.60%. During the same period in the previous year, the business posted $0.43 earnings per share. research analysts anticipate that Ares Capital Corporation will post 1.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.31%. The ex-dividend date of this dividend is Thursday, December 14th. Ares Capital Corporation’s payout ratio is 120.63%.
In other news, Director Michael J. Arougheti bought 8,365 shares of the stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now directly owns 937,054 shares in the company, valued at $14,852,305.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders bought 8,965 shares of company stock worth $142,283. Insiders own 0.45% of the company’s stock.
ARCC has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.50 price objective on shares of Ares Capital Corporation in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. National Securities reiterated a “buy” rating and set a $19.00 price target on shares of Ares Capital Corporation in a research note on Monday, August 7th. Citigroup Inc. assumed coverage on shares of Ares Capital Corporation in a research note on Wednesday, September 20th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital Corporation and gave the stock a “buy” rating in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus 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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