Ares Capital Corporation $ARCC Shares Sold by Boston Partners

Boston Partners decreased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 467,296 shares of the investment management company’s stock after selling 21,190 shares during the quarter. Boston Partners owned approximately 0.07% of Ares Capital worth $10,262,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new position in shares of Ares Capital in the 1st quarter worth approximately $928,000. Arkadios Wealth Advisors boosted its holdings in Ares Capital by 4.2% in the first quarter. Arkadios Wealth Advisors now owns 116,749 shares of the investment management company’s stock worth $2,587,000 after purchasing an additional 4,731 shares during the period. US Bancorp DE increased its stake in Ares Capital by 4.2% during the first quarter. US Bancorp DE now owns 44,866 shares of the investment management company’s stock valued at $994,000 after purchasing an additional 1,810 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in Ares Capital by 1.8% during the first quarter. Baker Avenue Asset Management LP now owns 139,277 shares of the investment management company’s stock valued at $3,086,000 after purchasing an additional 2,447 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Ares Capital by 11.3% during the first quarter. TIAA Trust National Association now owns 12,691 shares of the investment management company’s stock worth $281,000 after purchasing an additional 1,287 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARCC. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Royal Bank Of Canada reduced their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods lowered their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Capital One Financial set a $22.50 target price on Ares Capital in a research note on Friday, October 10th. Finally, UBS Group reduced their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Price Performance

NASDAQ ARCC opened at $20.69 on Friday. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The business’s fifty day moving average is $20.11 and its two-hundred day moving average is $21.47. The stock has a market capitalization of $14.80 billion, a P/E ratio of 10.34 and a beta of 0.68. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $766.48 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts forecast 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 paid a $0.48 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.3%. Ares Capital’s dividend payout ratio (DPR) is presently 96.00%.

Insider Buying and Selling

In other Ares Capital news, CEO Michael Kort Schnabel acquired 13,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average price of $20.39 per share, with a total value of $265,070.00. Following the transaction, the chief executive officer owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Ares Capital Company Profile

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.