Advisors Capital Management LLC Purchases 89,791 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Advisors Capital Management LLC raised its stake in Ares Capital Corporation (NASDAQ:ARCC) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 1,498,296 shares of the investment management company’s stock after buying an additional 89,791 shares during the period. Ares Capital Corporation accounts for about 2.0% of Advisors Capital Management LLC’s portfolio, making the stock its 4th largest position. Advisors Capital Management LLC’s holdings in Ares Capital Corporation were worth $24,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARCC. V Wealth Management LLC raised its position in Ares Capital Corporation by 20.0% in the second quarter. V Wealth Management LLC now owns 30,769 shares of the investment management company’s stock worth $502,000 after buying an additional 5,124 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in Ares Capital Corporation by 3.7% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 531,988 shares of the investment management company’s stock worth $8,714,000 after buying an additional 19,030 shares in the last quarter. Westbourne Investment Advisors Inc. raised its position in Ares Capital Corporation by 7.6% in the second quarter. Westbourne Investment Advisors Inc. now owns 143,374 shares of the investment management company’s stock worth $2,348,000 after buying an additional 10,124 shares in the last quarter. Chesley Taft & Associates LLC raised its position in Ares Capital Corporation by 1.5% in the second quarter. Chesley Taft & Associates LLC now owns 53,465 shares of the investment management company’s stock worth $876,000 after buying an additional 770 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its position in Ares Capital Corporation by 3.9% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 99,772 shares of the investment management company’s stock worth $1,634,000 after buying an additional 3,790 shares in the last quarter. Hedge funds and other institutional investors own 48.57% of the company’s stock.

Shares of Ares Capital Corporation (NASDAQ ARCC) traded up 0.37% on Monday, reaching $16.49. 1,054,651 shares of the company traded hands. The stock has a 50 day moving average of $16.52 and a 200 day moving average of $16.98. Ares Capital Corporation has a 52-week low of $14.20 and a 52-week high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $275 million during the quarter, compared to analyst estimates of $294.92 million. Ares Capital Corporation had a net margin of 44.29% and a return on equity of 9.32%. During the same quarter in the prior year, the business earned $0.42 EPS. Equities analysts forecast that Ares Capital Corporation will post $1.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.22%. The ex-dividend date was Tuesday, June 13th. Ares Capital Corporation’s dividend payout ratio is currently 110.95%.

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A number of research firms recently commented on ARCC. Jefferies Group LLC reaffirmed a “buy” rating and issued a $19.50 price objective on shares of Ares Capital Corporation in a research note on Friday. BidaskClub raised shares of Ares Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Janney Montgomery Scott reissued a “neutral” rating on shares of Ares Capital Corporation in a research note on Monday, May 15th. BMO Capital Markets reissued a “hold” rating and set a $15.00 target price on shares of Ares Capital Corporation in a research note on Tuesday, April 11th. Finally, TheStreet lowered shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $17.90.

Ares Capital Corporation Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

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Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

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