Lido Advisors LLC Buys 61,362 Shares of Ares Capital Corporation $ARCC

Lido Advisors LLC lifted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 838,016 shares of the investment management company’s stock after purchasing an additional 61,362 shares during the period. Lido Advisors LLC’s holdings in Ares Capital were worth $16,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Keybank National Association OH grew its holdings in Ares Capital by 56.6% in the 3rd quarter. Keybank National Association OH now owns 67,771 shares of the investment management company’s stock valued at $1,294,000 after buying an additional 24,500 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Ares Capital by 4.3% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 74,334 shares of the investment management company’s stock worth $1,420,000 after acquiring an additional 3,049 shares during the last quarter. Nemes Rush Group LLC increased its stake in shares of Ares Capital by 36.9% in the 3rd quarter. Nemes Rush Group LLC now owns 2,041 shares of the investment management company’s stock worth $39,000 after acquiring an additional 550 shares during the last quarter. AlphaCore Capital LLC raised its holdings in shares of Ares Capital by 3.7% during the 3rd quarter. AlphaCore Capital LLC now owns 63,915 shares of the investment management company’s stock worth $1,221,000 after acquiring an additional 2,263 shares during the period. Finally, Palacios Wealth Management LLC raised its holdings in shares of Ares Capital by 27.1% during the 3rd quarter. Palacios Wealth Management LLC now owns 38,417 shares of the investment management company’s stock worth $734,000 after acquiring an additional 8,193 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ:ARCC opened at $19.46 on Thursday. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $21.14. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $14.05 billion, a P/E ratio of 15.95 and a beta of 0.60. The stock’s fifty day moving average is $19.12 and its two-hundred day moving average is $18.98.

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

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.9%. Ares Capital’s dividend payout ratio is presently 157.38%.

Analyst Upgrades and Downgrades

ARCC has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Citigroup restated a “market outperform” rating on shares of Ares Capital in a research report on Wednesday, October 28th. Truist Financial reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.39.

Ares Capital 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.