Ares Capital Corporation (ARCC) Shares Bought by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC boosted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 12.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 558,099 shares of the investment management company’s stock after acquiring an additional 62,499 shares during the quarter. Chartwell Investment Partners LLC owned 0.13% of Ares Capital Corporation worth $9,147,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Penserra Capital Management LLC increased its position in Ares Capital Corporation by 8.9% in the 2nd quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after buying an additional 526 shares during the period. Hudock Capital Group LLC grew its stake in Ares Capital Corporation by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after acquiring an additional 200 shares during the period. Ffcm LLC grew its stake in Ares Capital Corporation by 218.9% in the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after acquiring an additional 4,695 shares during the period. Legacy Advisors LLC acquired a new position in shares of Ares Capital Corporation during the third quarter worth about $128,000. Finally, Grove Bank & Trust boosted its position in Ares Capital Corporation by 45.4% during the second quarter. Grove Bank & Trust now owns 9,420 shares of the investment management company’s stock valued at $154,000 after purchasing an additional 2,940 shares during the last quarter. Hedge funds and other institutional investors own 43.90% of the company’s stock.
In other Ares Capital Corporation news, Director Michael J. Arougheti bought 8,365 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $15.85 per share, with a total value of $132,585.25. Following the transaction, the director now owns 937,054 shares in the company, valued at $14,852,305.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have bought 8,965 shares of company stock valued at $142,283. Corporate insiders own 0.45% of the company’s stock.
Shares of Ares Capital Corporation (NASDAQ ARCC) traded down $0.01 during midday trading on Wednesday, hitting $16.30. 1,069,800 shares of the stock were exchanged, compared to its average volume of 2,071,957. Ares Capital Corporation has a 1-year low of $15.48 and a 1-year high of $17.87. The firm has a market capitalization of $6,940.00, a PE ratio of 11.33, a price-to-earnings-growth ratio of 3.94 and a beta of 0.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29.
Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $294.00 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.43 earnings per share. equities research analysts expect that Ares Capital Corporation will post 1.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date is Thursday, December 14th. Ares Capital Corporation’s dividend payout ratio is currently 120.63%.
ARCC has been the topic of a number of recent research reports. CIBC assumed coverage on Ares Capital Corporation in a research note on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 target price on shares of Ares Capital Corporation in a research report on Friday, August 25th. Oppenheimer Holdings, Inc. began coverage on Ares Capital Corporation in a research note on Thursday, September 21st. They set an “outperform” rating and a $18.00 price target for the company. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital Corporation in a research note on Friday, November 3rd. Finally, Citigroup Inc. started coverage on Ares Capital Corporation in a research note on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Ares Capital Corporation presently has a consensus rating of “Buy” and a consensus target price of $18.06.
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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