Ares Capital Corporation $ARCC Position Boosted by Family Manage LLC

Family Manage LLC lifted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 86.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 188,441 shares of the investment management company’s stock after purchasing an additional 87,298 shares during the quarter. Family Manage LLC’s holdings in Ares Capital were worth $3,396,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Palladiem LLC acquired a new position in Ares Capital during the 4th quarter valued at about $26,000. SWAN Capital LLC bought a new stake in shares of Ares Capital during the 3rd quarter worth about $27,000. Sankala Group LLC bought a new position in shares of Ares Capital in the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC bought a new position in shares of Ares Capital in the fourth quarter valued at approximately $33,000. Finally, Quarry LP acquired a new position in shares of Ares Capital during the third quarter valued at approximately $33,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

Ares Capital stock opened at $18.78 on Monday. The firm has a market cap of $13.48 billion, a PE ratio of 11.52 and a beta of 0.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s 50 day moving average price is $18.66 and its two-hundred day moving average price is $18.95. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.15.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The company had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. During the same period last year, the business earned $0.50 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that Ares Capital Corporation will post 1.9 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.48 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.92 dividend on an annualized basis and a yield of 10.2%. Ares Capital’s payout ratio is 117.79%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARCC. Oppenheimer lowered their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. B. Riley Financial cut their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Citizens Jmp decreased their target price on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 target price (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Finally, Truist Financial dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.60.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.