Denali Advisors LLC Has $7.94 Million Stock Holdings in Ares Capital Corporation $ARCC

Denali Advisors LLC cut its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 392,429 shares of the investment management company’s stock after selling 53,677 shares during the quarter. Ares Capital makes up 0.9% of Denali Advisors LLC’s portfolio, making the stock its 17th largest position. Denali Advisors LLC’s holdings in Ares Capital were worth $7,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Partners Group Holding AG raised its holdings in Ares Capital by 4.8% during the 3rd quarter. Partners Group Holding AG now owns 1,767,154 shares of the investment management company’s stock worth $36,068,000 after purchasing an additional 80,885 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Ares Capital by 33.9% during the 3rd quarter. International Assets Investment Management LLC now owns 275,891 shares of the investment management company’s stock worth $5,557,000 after purchasing an additional 69,844 shares during the last quarter. Investment Partners Asset Management Inc. bought a new stake in Ares Capital during the 4th quarter worth about $1,314,000. Prevail Innovative Wealth Advisors LLC bought a new stake in Ares Capital during the 3rd quarter worth about $1,430,000. Finally, Sound Income Strategies LLC raised its holdings in Ares Capital by 5.6% during the 4th quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock worth $54,691,000 after purchasing an additional 138,857 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

Ares Capital stock opened at $19.01 on Friday. The firm has a market capitalization of $13.65 billion, a P/E ratio of 11.66 and a beta of 0.58. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. The business has a 50-day moving average of $18.51 and a 200-day moving average of $19.59. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The company had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Ares Capital’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.48 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.1%. Ares Capital’s payout ratio is currently 117.79%.

Wall Street Analyst Weigh In

ARCC has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their target price on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. UBS Group decreased their target price on Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Oppenheimer decreased their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company decreased their target price on Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Ares Capital Company Profile

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.