Riverbridge Partners LLC Acquires 40,999 Shares of Ares Capital Corporation $ARCC

Riverbridge Partners LLC raised its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 36.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,288 shares of the investment management company’s stock after acquiring an additional 40,999 shares during the quarter. Riverbridge Partners LLC’s holdings in Ares Capital were worth $2,909,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Nemes Rush Group LLC lifted its position in shares of Ares Capital by 36.9% in the third quarter. Nemes Rush Group LLC now owns 2,041 shares of the investment management company’s stock worth $39,000 after purchasing an additional 550 shares in the last quarter. Magnus Financial Group LLC boosted its holdings in shares of Ares Capital by 2.5% during the third quarter. Magnus Financial Group LLC now owns 23,881 shares of the investment management company’s stock worth $456,000 after purchasing an additional 579 shares during the period. Intrua Financial LLC boosted its holdings in shares of Ares Capital by 1.6% during the third quarter. Intrua Financial LLC now owns 37,539 shares of the investment management company’s stock worth $717,000 after purchasing an additional 607 shares during the period. VPR Management LLC boosted its holdings in shares of Ares Capital by 1.0% during the second quarter. VPR Management LLC now owns 63,254 shares of the investment management company’s stock worth $1,172,000 after purchasing an additional 636 shares during the period. Finally, Stableford Capital II LLC grew its position in Ares Capital by 0.3% during the second quarter. Stableford Capital II LLC now owns 192,802 shares of the investment management company’s stock valued at $3,573,000 after purchasing an additional 638 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Up 0.5%

NASDAQ:ARCC opened at $19.44 on Wednesday. The company has a market capitalization of $14.04 billion, a P/E ratio of 15.93 and a beta of 0.60. The stock’s 50 day moving average price is $19.13 and its 200 day moving average price is $18.98. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.00 and a current ratio of 1.00. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $21.14.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, October 27th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $763.00 million during the quarter, compared to analyst estimates of $776.34 million. Ares Capital had a net margin of 28.34% and a return on equity of 9.72%. Ares Capital’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. On average, research analysts forecast that Ares Capital Corporation will post 1.88 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.9%. Ares Capital’s dividend payout ratio (DPR) is currently 157.38%.

Analysts Set New Price Targets

ARCC has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Truist Financial lowered their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research note on Friday, September 4th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research note on Wednesday, October 28th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $20.39.

Ares Capital Company Profile

Ares Capital Corporation is a business development company that provides financing to U.S. middle-market companies, including businesses backed by private equity firms. It is externally managed by Ares Capital Management, an affiliate of Ares Management Corporation. The company invests primarily in debt, including first-lien and second-lien loans and subordinated debt, and may also make equity investments. Its financing supports a range of business needs, such as acquisitions, growth, and refinancing.