LSV Asset Management Sells 206,000 Shares of Ares Capital Corporation $ARCC

LSV Asset Management cut its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 27.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 544,100 shares of the investment management company’s stock after selling 206,000 shares during the period. LSV Asset Management’s holdings in Ares Capital were worth $11,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SWAN Capital LLC bought a new stake in shares of Ares Capital during the 3rd quarter valued at $27,000. Quarry LP purchased a new position in Ares Capital during the third quarter valued at $33,000. WFA of San Diego LLC purchased a new position in Ares Capital during the second quarter valued at $36,000. Ameriflex Group Inc. grew its stake in shares of Ares Capital by 201.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock worth $36,000 after buying an additional 1,178 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Ares Capital in the 4th quarter worth $37,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

NASDAQ:ARCC opened at $18.59 on Tuesday. The company has a market cap of $13.35 billion, a PE ratio of 11.40 and a beta of 0.58. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The company’s 50 day moving average is $18.49 and its two-hundred day moving average is $19.47.

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

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.3%. The ex-dividend date is Monday, June 15th. Ares Capital’s payout ratio is presently 117.79%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer dropped their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Truist Financial decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. UBS Group decreased their price objective on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, B. Riley Financial reduced their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.75.

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.