Ares Capital Corporation $ARCC Stock Holdings Increased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,226 shares of the investment management company’s stock after buying an additional 4,012 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Ares Capital were worth $1,937,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $29,000. Elequin Capital LP acquired a new position in Ares Capital in the first quarter worth $30,000. CNB Bank bought a new stake in Ares Capital during the second quarter valued at $36,000. Harbor Asset Planning Inc. acquired a new stake in shares of Ares Capital during the second quarter worth $38,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of Ares Capital during the second quarter worth $40,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Kort Schnabel bought 13,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the completion of the transaction, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

Ares Capital Stock Performance

ARCC stock opened at $20.20 on Friday. The company has a 50-day simple moving average of $20.68 and a 200 day simple moving average of $21.55. The company has a market capitalization of $14.46 billion, a P/E ratio of 10.10 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. Ares Capital’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. Sell-side analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 annualized dividend and a yield of 9.5%. Ares Capital’s payout ratio is presently 96.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ARCC shares. Keefe, Bruyette & Woods decreased their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Capital One Financial set a $22.50 target price on Ares Capital in a report on Friday, October 10th. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Citigroup restated a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada dropped their target price on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $22.25.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.