Ares Capital Corporation $ARCC is Ares Management LLC’s 8th Largest Position

Ares Management LLC reduced its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,861,913 shares of the investment management company’s stock after selling 26,718 shares during the quarter. Ares Capital comprises about 0.1% of Ares Management LLC’s portfolio, making the stock its 8th biggest position. Ares Management LLC owned 0.26% of Ares Capital worth $40,888,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Boston Partners increased its stake in shares of Ares Capital by 11.7% during the first quarter. Boston Partners now owns 488,486 shares of the investment management company’s stock valued at $10,820,000 after buying an additional 51,271 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Ares Capital by 14.8% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 438,266 shares of the investment management company’s stock worth $9,712,000 after acquiring an additional 56,633 shares in the last quarter. Providence Capital Advisors LLC increased its position in Ares Capital by 0.8% during the 1st quarter. Providence Capital Advisors LLC now owns 154,676 shares of the investment management company’s stock valued at $3,428,000 after purchasing an additional 1,291 shares during the period. Aberdeen Group plc raised its holdings in shares of Ares Capital by 3.4% in the 1st quarter. Aberdeen Group plc now owns 125,367 shares of the investment management company’s stock valued at $2,762,000 after purchasing an additional 4,085 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Ares Capital by 828.2% in the 1st quarter. Tocqueville Asset Management L.P. now owns 236,052 shares of the investment management company’s stock worth $5,231,000 after purchasing an additional 210,622 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARCC. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Keefe, Bruyette & Woods cut their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Wells Fargo & Company dropped their price objective 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. Finally, Royal Bank Of Canada cut their target price on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.25.

Ares Capital Trading Down 0.1%

Ares Capital stock opened at $20.85 on Friday. 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 stock has a market cap of $14.92 billion, a PE ratio of 10.43 and a beta of 0.59. The stock has a 50-day moving average of $20.19 and a two-hundred day moving average of $21.41. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

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

Insider Activity

In related news, CEO Michael Kort Schnabel acquired 13,000 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired 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 owned 28,000 shares of the company’s stock, valued at approximately $570,920. This represents a 86.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.