Golden Gate Private Equity Inc. increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 369,600 shares of the investment management company’s stock after buying an additional 27,600 shares during the quarter. Ares Capital Corporation accounts for about 4.7% of Golden Gate Private Equity Inc.’s investment portfolio, making the stock its 2nd largest position. Golden Gate Private Equity Inc. owned approximately 0.09% of Ares Capital Corporation worth $6,058,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. IHT Wealth Management LLC lifted its holdings in Ares Capital Corporation by 33.5% during the second quarter. IHT Wealth Management LLC now owns 4,568 shares of the investment management company’s stock valued at $196,000 after purchasing an additional 1,147 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Ares Capital Corporation by 8.9% during the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 526 shares in the last quarter. Hudock Capital Group LLC lifted its holdings in Ares Capital Corporation by 3.2% during the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Ffcm LLC lifted its holdings in Ares Capital Corporation by 218.9% during the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after purchasing an additional 4,695 shares in the last quarter. Finally, Legacy Advisors LLC purchased a new position in Ares Capital Corporation during the third quarter valued at approximately $128,000. 43.90% of the stock is currently owned by institutional investors.
Ares Capital Corporation (ARCC) traded down $0.07 during mid-day trading on Wednesday, hitting $16.23. 433,458 shares of the stock traded hands, compared to its average volume of 2,071,957. Ares Capital Corporation has a 1 year low of $15.48 and a 1 year high of $17.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $6,940.00, a P/E ratio of 11.33, a PEG ratio of 3.94 and a beta of 0.63.
Ares Capital Corporation (NASDAQ:ARCC) last released its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Ares Capital Corporation had a net margin of 45.78% and a return on equity of 8.60%. The firm had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. equities analysts expect that Ares Capital Corporation will post 1.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.36%. The ex-dividend date is Thursday, December 14th. Ares Capital Corporation’s dividend payout ratio (DPR) is presently 120.63%.
Several equities analysts have weighed in on the stock. TheStreet downgraded shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a report on Monday, November 13th. Zacks Investment Research downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Monday, November 6th. National Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of Ares Capital Corporation in a report on Friday, November 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.50 price target on shares of Ares Capital Corporation in a report on Friday, November 3rd. Finally, Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital Corporation and gave the company a “buy” rating in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.06.
In related news, Director Michael J. Arougheti bought 8,365 shares of the stock in a transaction dated Friday, November 3rd. The shares were purchased at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 8,965 shares of company stock worth $142,283 in the last three months. Insiders own 0.45% of the company’s stock.
Ares Capital Corporation Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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