Cane Capital Partners LLC Invests $990,000 in Ares Capital Corporation $ARCC

Cane Capital Partners LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 48,920 shares of the investment management company’s stock, valued at approximately $990,000.

Several other hedge funds and other institutional investors have also modified their holdings of ARCC. City Holding Co. boosted its position in shares of Ares Capital by 444.4% during the third quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock worth $25,000 after buying an additional 1,000 shares during the period. SWAN Capital LLC purchased a new position in shares of Ares Capital during the third quarter worth $27,000. NBT Bank N A NY purchased a new position in shares of Ares Capital during the third quarter worth $31,000. Quarry LP purchased a new position in shares of Ares Capital during the third quarter worth $33,000. Finally, Ameriflex Group Inc. boosted its position in shares of Ares Capital by 201.0% during the third quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock worth $36,000 after buying an additional 1,178 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ares Capital news, CFO Scott C. Lem purchased 5,186 shares of the business’s stock in a transaction on Friday, February 6th. The shares were bought at an average cost of $19.29 per share, for a total transaction of $100,037.94. Following the completion of the purchase, the chief financial officer directly owned 39,463 shares in the company, valued at approximately $761,241.27. This represents a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Kort Schnabel purchased 12,500 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $19.13 per share, for a total transaction of $239,125.00. Following the completion of the purchase, the chief executive officer owned 40,500 shares of the company’s stock, valued at $774,765. This represents a 44.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.49% of the company’s stock.

Ares Capital Trading Down 1.4%

NASDAQ:ARCC opened at $18.05 on Wednesday. The firm has a market cap of $12.96 billion, a PE ratio of 9.70 and a beta of 0.58. The stock has a fifty day moving average price of $18.79 and a 200 day moving average price of $19.77. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $23.42. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $793.00 million during the quarter, compared to analyst estimates of $795.20 million. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.Ares Capital’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. Sell-side analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a $0.48 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.92 dividend on an annualized basis and a yield of 10.6%. Ares Capital’s dividend payout ratio (DPR) is 103.23%.

Analyst Ratings Changes

ARCC has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Ares Capital in a research report on Monday, December 29th. Royal Bank Of Canada lowered their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Wells Fargo & Company decreased their target price on Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

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.