Foundations Investment Advisors LLC Reduces Stock Holdings in Ares Capital Corporation $ARCC

Foundations Investment Advisors LLC decreased its position in Ares Capital Corporation (NASDAQ:ARCC) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,597 shares of the investment management company’s stock after selling 45,577 shares during the period. Foundations Investment Advisors LLC’s holdings in Ares Capital were worth $5,789,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in Ares Capital by 14.8% during the first quarter. Bank of New York Mellon Corp now owns 159,766 shares of the investment management company’s stock worth $3,540,000 after buying an additional 20,552 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of Ares Capital by 38.6% in the 1st quarter. Wealthfront Advisers LLC now owns 21,270 shares of the investment management company’s stock valued at $471,000 after buying an additional 5,923 shares during the period. Verdence Capital Advisors LLC lifted its stake in Ares Capital by 9.3% during the 1st quarter. Verdence Capital Advisors LLC now owns 11,828 shares of the investment management company’s stock worth $262,000 after acquiring an additional 1,002 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Ares Capital by 2.0% during the first quarter. Kingsview Wealth Management LLC now owns 80,691 shares of the investment management company’s stock worth $1,788,000 after purchasing an additional 1,604 shares in the last quarter. Finally, Archer Investment Corp increased its stake in Ares Capital by 281.3% during the 1st quarter. Archer Investment Corp now owns 2,440 shares of the investment management company’s stock worth $54,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael Kort Schnabel bought 13,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the completion of the transaction, the chief executive officer owned 28,000 shares in the company, valued at $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Ares Capital Stock Down 0.4%

ARCC opened at $20.21 on Friday. The business has a 50 day simple moving average of $20.47 and a 200-day simple moving average of $21.53. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The stock has a market capitalization of $14.46 billion, a P/E ratio of 10.11 and a beta of 0.68. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 1.14.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $766.48 million. During the same quarter last year, the company earned $0.58 earnings per share. Ares Capital’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 annualized dividend and a yield of 9.5%. Ares Capital’s payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARCC shares. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. 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. JPMorgan Chase & Co. lowered their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ares Capital in a research note on Thursday, October 30th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.25.

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.