Ares Capital Corporation $ARCC Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 54.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 884,870 shares of the investment management company’s stock after selling 1,051,000 shares during the quarter. 1832 Asset Management L.P. owned about 0.13% of Ares Capital worth $19,432,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in shares of Ares Capital by 4.2% during the 1st quarter. US Bancorp DE now owns 44,866 shares of the investment management company’s stock valued at $994,000 after acquiring an additional 1,810 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Ares Capital by 6.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 538,042 shares of the investment management company’s stock worth $11,183,000 after acquiring an additional 30,668 shares during the last quarter. WealthPlan Investment Management LLC raised its position in shares of Ares Capital by 4.4% during the first quarter. WealthPlan Investment Management LLC now owns 42,578 shares of the investment management company’s stock worth $944,000 after purchasing an additional 1,809 shares during the period. AlphaCore Capital LLC purchased a new stake in shares of Ares Capital during the first quarter valued at $876,000. Finally, Savvy Advisors Inc. boosted its position in shares of Ares Capital by 30.2% in the 1st quarter. Savvy Advisors Inc. now owns 45,356 shares of the investment management company’s stock valued at $1,005,000 after purchasing an additional 10,520 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

ARCC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target 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. Wells Fargo & Company decreased their target price on Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Royal Bank Of Canada lowered their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Capital One Financial set a $22.50 price target on Ares Capital in a research report on Friday, October 10th. Finally, Citigroup reissued a “market outperform” rating on shares of Ares Capital in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Ares Capital Price Performance

Shares of ARCC opened at $20.92 on Friday. The firm has a market cap of $14.97 billion, a PE ratio of 10.46 and a beta of 0.59. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.20 and a current ratio of 2.20. The business’s 50 day moving average price is $20.11 and its two-hundred day moving average price is $21.44.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $766.48 million. During the same period last year, the business posted $0.58 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio is presently 96.00%.

Insider Buying and Selling at Ares Capital

In related news, CEO Michael Kort Schnabel bought 13,000 shares of the company’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the completion of the purchase, the chief executive officer directly owned 28,000 shares in the company, valued at $570,920. The trade was a 86.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is owned by 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.