AdvisorNet Financial Inc Has $411,000 Holdings in Ares Capital Corporation $ARCC

AdvisorNet Financial Inc trimmed its position in Ares Capital Corporation (NASDAQ:ARCC) by 83.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 20,131 shares of the investment management company’s stock after selling 102,528 shares during the period. AdvisorNet Financial Inc’s holdings in Ares Capital were worth $411,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kingstone Capital Partners Texas LLC bought a new position in shares of Ares Capital during the second quarter worth $877,203,000. Bank of America Corp DE lifted its stake in Ares Capital by 8.9% in the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after acquiring an additional 705,882 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Ares Capital by 18.6% in the second quarter. JPMorgan Chase & Co. now owns 6,404,876 shares of the investment management company’s stock valued at $140,651,000 after buying an additional 1,006,460 shares during the period. Legal & General Group Plc boosted its position in Ares Capital by 5.4% during the second quarter. Legal & General Group Plc now owns 4,955,567 shares of the investment management company’s stock worth $108,799,000 after purchasing an additional 252,947 shares during the period. Finally, Confluence Investment Management LLC grew its position in shares of Ares Capital by 0.6% in the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after purchasing an additional 21,344 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $19.91 on Tuesday. The stock has a market cap of $14.25 billion, a P/E ratio of 9.96 and a beta of 0.59. 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’s fifty day moving average is $20.26 and its 200 day moving average is $21.32. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data 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 net margin of 45.16% and a return on equity of 10.08%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $766.48 million. During the same period last year, the firm posted $0.58 EPS. The company’s revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. Ares Capital’s dividend payout ratio (DPR) is presently 96.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut 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. UBS Group lowered their target price 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. Citigroup reissued a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Capital in a research note on Monday, December 15th. Finally, Capital One Financial set a $22.50 price objective on Ares Capital in a research report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.25.

Insiders Place Their Bets

In related news, CEO Michael Kort Schnabel acquired 13,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $20.39 per share, with a total value of $265,070.00. Following the completion of the acquisition, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at $570,920. This 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 the SEC website. Corporate insiders own 0.48% of the company’s stock.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.