Concurrent Investment Advisors LLC Purchases 2,785 Shares of Ares Capital Corporation $ARCC

Concurrent Investment Advisors LLC grew its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 82,941 shares of the investment management company’s stock after buying an additional 2,785 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Ares Capital were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Johnson Investment Counsel Inc. lifted its holdings in Ares Capital by 38.0% during the second quarter. Johnson Investment Counsel Inc. now owns 107,002 shares of the investment management company’s stock worth $2,350,000 after acquiring an additional 29,443 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Ares Capital by 1.3% during the 2nd quarter. Apollon Wealth Management LLC now owns 232,532 shares of the investment management company’s stock worth $5,106,000 after purchasing an additional 2,902 shares during the period. Aberdeen Group plc raised its stake in shares of Ares Capital by 3.4% during the 2nd quarter. Aberdeen Group plc now owns 129,593 shares of the investment management company’s stock worth $2,852,000 after purchasing an additional 4,226 shares during the period. PDS Planning Inc raised its stake in shares of Ares Capital by 23.1% during the 2nd quarter. PDS Planning Inc now owns 19,896 shares of the investment management company’s stock worth $437,000 after purchasing an additional 3,730 shares during the period. Finally, Aurora Private Wealth Inc. raised its stake in shares of Ares Capital by 1.5% during the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock worth $636,000 after purchasing an additional 436 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Trading Up 2.3%

Shares of ARCC stock opened at $19.94 on Wednesday. The company’s fifty day simple moving average is $21.50 and its two-hundred day simple moving average is $21.59. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 9.73 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The business had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. During the same period in the previous year, the firm earned $0.61 EPS. As a group, analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is presently 93.66%.

Analysts Set New Price Targets

Several analysts have commented on ARCC shares. Capital One Financial set a $22.50 price objective on shares of Ares Capital in a research report on Friday. Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup reaffirmed an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company boosted their target price on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Ares Capital Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.