Ares Capital Corporation $ARCC Shares Acquired by Intellectus Partners LLC

Intellectus Partners LLC increased its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 22.7% during the 2nd quarter, Holdings Channel reports. The fund owned 116,997 shares of the investment management company’s stock after purchasing an additional 21,648 shares during the quarter. Intellectus Partners LLC’s holdings in Ares Capital were worth $2,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Aurora Private Wealth Inc. boosted its position in Ares Capital by 1.5% in 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 in the last quarter. Community Trust & Investment Co. lifted its stake in shares of Ares Capital by 0.3% in the 2nd quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock valued at $3,296,000 after purchasing an additional 454 shares during the period. Prostatis Group LLC boosted its holdings in Ares Capital by 2.1% during the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock worth $482,000 after buying an additional 457 shares in the last quarter. Fiduciary Alliance LLC grew its position in Ares Capital by 3.1% during the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after buying an additional 516 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in Ares Capital by 1.7% during the second quarter. Cullen Frost Bankers Inc. now owns 32,245 shares of the investment management company’s stock valued at $708,000 after buying an additional 540 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Capital One Financial set a $22.50 price target on Ares Capital in a research report on Friday, October 10th. Royal Bank Of Canada cut their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods decreased their target price on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $20.35 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 1.14. The business has a 50 day simple moving average of $20.88 and a two-hundred day simple moving average of $21.56. The stock has a market capitalization of $14.57 billion, a P/E ratio of 10.18 and a beta of 0.68. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $766.48 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio (DPR) is currently 96.00%.

Ares Capital Company 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.