Advisors Capital Management LLC raised its position in Ares Capital Corporation (NASDAQ:ARCC) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 makes up 2.0% of Advisors Capital Management LLC’s holdings, 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 have also bought and sold shares of ARCC. Russell Investments Group Ltd. acquired a new stake in Ares Capital Corporation during the fourth quarter worth about $130,000. Pekin Singer Strauss Asset Management IL boosted its position in Ares Capital Corporation by 23.6% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 37,400 shares of the investment management company’s stock worth $617,000 after buying an additional 7,150 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in Ares Capital Corporation by 2.0% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 488,633 shares of the investment management company’s stock worth $8,057,000 after buying an additional 9,697 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in Ares Capital Corporation by 19.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 23,573 shares of the investment management company’s stock worth $420,000 after buying an additional 3,841 shares in the last quarter. Finally, Searle & CO. bought a new position in Ares Capital Corporation during the fourth quarter worth $751,000. 48.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Ares Capital Corporation (ARCC) opened at 16.06 on Friday. The firm has a 50-day moving average price of $16.39 and a 200 day moving average price of $16.95. Ares Capital Corporation has a 12 month low of $15.01 and a 12 month high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $284 million for the quarter, compared to analyst estimates of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same quarter last year, the firm posted $0.50 EPS. Equities research analysts predict that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.46%. Ares Capital Corporation’s dividend payout ratio (DPR) is currently 117.83%.
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ARCC has been the subject of a number of analyst reports. Zacks Investment Research cut Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.50 target price on shares of Ares Capital Corporation in a research note on Friday, June 16th. BidaskClub upgraded Ares Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. TheStreet cut Ares Capital Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, June 14th. Finally, National Securities upgraded Ares Capital Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $19.00 in a research note on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Ares Capital Corporation presently has a consensus rating of “Buy” and an average target price of $18.00.
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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