Ares Capital Co. (ARCC) Stake Lowered by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC lessened its position in Ares Capital Co. (NASDAQ:ARCC) by 27.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 400,284 shares of the investment management company’s stock after selling 148,227 shares during the period. Freestone Capital Holdings LLC owned about 0.09% of Ares Capital worth $6,352,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ARCC. Bessemer Group Inc. boosted its stake in shares of Ares Capital by 14,542.3% in the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 7,562 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Ares Capital by 12.8% in the 4th quarter. Aperio Group LLC now owns 42,097 shares of the investment management company’s stock valued at $662,000 after purchasing an additional 4,790 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Ares Capital by 3.0% in the 4th quarter. California Public Employees Retirement System now owns 922,100 shares of the investment management company’s stock valued at $14,495,000 after purchasing an additional 26,600 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Ares Capital by 17.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 29,459 shares of the investment management company’s stock valued at $464,000 after purchasing an additional 4,320 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its stake in shares of Ares Capital by 3.3% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 539,500 shares of the investment management company’s stock valued at $8,481,000 after purchasing an additional 17,247 shares in the last quarter. Institutional investors own 41.37% of the company’s stock.

ARCC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on Ares Capital from $16.50 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, April 11th. Finally, BidaskClub cut Ares Capital from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Ares Capital has a consensus rating of “Buy” and a consensus target price of $17.96.

Ares Capital stock opened at $16.89 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. Ares Capital Co. has a 12-month low of $15.03 and a 12-month high of $17.11. The stock has a market capitalization of $7.25 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 3.57 and a beta of 0.61.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, May 2nd. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. Ares Capital had a return on equity of 8.80% and a net margin of 65.81%. The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $309.81 million. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. sell-side analysts predict that Ares Capital Co. will post 1.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.00%. Ares Capital’s dividend payout ratio is 109.35%.

Ares Capital 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.

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

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