OMERS ADMINISTRATION Corp Grows Stake in Ares Capital Corporation $ARCC

OMERS ADMINISTRATION Corp lifted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 56.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,342,324 shares of the investment management company’s stock after buying an additional 849,097 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.33% of Ares Capital worth $51,437,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ARCC. Fourth Dimension Wealth LLC acquired a new position in Ares Capital during the 2nd quarter worth approximately $29,000. Elequin Capital LP acquired a new stake in Ares Capital in the first quarter valued at approximately $30,000. CNB Bank purchased a new stake in shares of Ares Capital during the second quarter valued at approximately $36,000. Harbor Asset Planning Inc. purchased a new stake in shares of Ares Capital during the second quarter valued at approximately $38,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Ares Capital during the second quarter worth $40,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the topic of several analyst reports. UBS Group dropped their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Capital One Financial set a $22.50 price target on Ares Capital in a research note on Friday, October 10th. Citigroup reissued a “market outperform” rating on shares of Ares Capital in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ares Capital in a report on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

Insider Transactions at Ares Capital

In other Ares Capital news, CEO Michael Kort Schnabel acquired 13,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $20.39 per share, with a total value of $265,070.00. Following the completion of the acquisition, the chief executive officer directly owned 28,000 shares in the company, valued at $570,920. This trade represents a 86.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by company insiders.

Ares Capital Stock Performance

Shares of ARCC stock opened at $20.69 on Monday. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of 10.34 and a beta of 0.68. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The company’s 50-day simple moving average is $20.11 and its 200-day simple moving average is $21.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (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 $1.59 billion for the quarter, compared to analysts’ expectations of $766.48 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Ares Capital’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

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 paid a dividend of $0.48 per share. The ex-dividend date is Monday, December 15th. This represents a $1.92 annualized dividend and a yield of 9.3%. Ares Capital’s dividend payout ratio (DPR) is 96.00%.

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.