Cornerstone Capital Inc. Has $1.96 Million Position in Ares Capital Corporation (ARCC)

Cornerstone Capital Inc. lifted its position in Ares Capital Corporation (NASDAQ:ARCC) by 49.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,514 shares of the investment management company’s stock after buying an additional 39,600 shares during the quarter. Cornerstone Capital Inc.’s holdings in Ares Capital were worth $1,959,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC grew its stake in shares of Ares Capital by 1.7% in the second quarter. Alpha Omega Wealth Management LLC now owns 12,184 shares of the investment management company’s stock valued at $200,000 after buying an additional 199 shares in the last quarter. Hudock Capital Group LLC grew its stake in shares of Ares Capital by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after buying an additional 200 shares in the last quarter. M&R Capital Management Inc. grew its stake in shares of Ares Capital by 2.8% in the second quarter. M&R Capital Management Inc. now owns 11,755 shares of the investment management company’s stock valued at $188,000 after buying an additional 320 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of Ares Capital by 0.5% in the second quarter. Optimum Investment Advisors now owns 88,753 shares of the investment management company’s stock valued at $1,454,000 after buying an additional 460 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC grew its stake in shares of Ares Capital by 1.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 34,827 shares of the investment management company’s stock valued at $570,000 after buying an additional 500 shares in the last quarter. 43.67% of the stock is owned by institutional investors and hedge funds.

In other news, Director Michael J. Arougheti bought 8,365 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 8,965 shares of company stock valued at $142,323 in the last three months. Insiders own 0.45% of the company’s stock.

Ares Capital Corporation (NASDAQ:ARCC) opened at $16.20 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Corporation has a 52-week low of $15.48 and a 52-week high of $17.87. The company has a market cap of $6,906.04, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The company had revenue of $294.00 million during the quarter, compared to the consensus estimate of $295.02 million. During the same quarter last year, the firm earned $0.43 earnings per share. equities analysts predict that Ares Capital Corporation will post 1.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio is currently 119.69%.

Several equities analysts recently weighed in on the stock. Wedbush initiated coverage on shares of Ares Capital in a research note on Monday, November 27th. They issued an “outperform” rating and a $18.00 target price for the company. TheStreet cut shares of Ares Capital from a “b” rating to a “c+” rating in a research report on Monday, November 13th. Zacks Investment Research cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. National Securities reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ares Capital in a research report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $19.50 price objective on shares of Ares Capital in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.06.

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Ares Capital 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 (NASDAQ:ARCC)

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