Alpine Woods Capital Investors LLC decreased its position in Ares Capital (NASDAQ:ARCC) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,900 shares of the investment management company’s stock after selling 13,000 shares during the period. Alpine Woods Capital Investors LLC owned approximately 0.20% of Ares Capital worth $13,329,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Two Sigma Advisers LP boosted its stake in Ares Capital by 43.8% in the 4th quarter. Two Sigma Advisers LP now owns 955,455 shares of the investment management company’s stock worth $15,020,000 after purchasing an additional 291,000 shares in the last quarter. Green Square Capital LLC boosted its stake in Ares Capital by 2.2% in the 4th quarter. Green Square Capital LLC now owns 390,489 shares of the investment management company’s stock worth $6,138,000 after purchasing an additional 8,536 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Ares Capital in the 4th quarter worth about $223,000. Frontier Investment Mgmt Co. boosted its stake in Ares Capital by 6.1% in the 4th quarter. Frontier Investment Mgmt Co. now owns 741,767 shares of the investment management company’s stock worth $11,661,000 after purchasing an additional 42,662 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Ares Capital by 3.0% in the 4th quarter. California Public Employees Retirement System now owns 922,100 shares of the investment management company’s stock worth $14,495,000 after purchasing an additional 26,600 shares in the last quarter. Institutional investors own 42.77% of the company’s stock.
In other Ares Capital news, insider Michael J. Arougheti bought 25,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was acquired at an average price of $15.60 per share, with a total value of $390,000.00. Following the transaction, the insider now owns 984,535 shares in the company, valued at $15,358,746. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders acquired 25,600 shares of company stock valued at $399,574. 0.49% of the stock is owned by insiders.
A number of brokerages recently issued reports on ARCC. National Securities reiterated a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a research note on Tuesday. BidaskClub upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. Oppenheimer set a $18.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Zacks Investment Research lowered Ares Capital from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, ValuEngine lowered Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $17.91.
Shares of Ares Capital opened at $16.57 on Friday, Marketbeat reports. Ares Capital has a fifty-two week low of $16.49 and a fifty-two week high of $16.54. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.58.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, May 2nd. The investment management company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Ares Capital had a return on equity of 8.80% and a net margin of 65.81%. The business had revenue of $317.00 million during the quarter, compared to analyst estimates of $309.81 million. During the same quarter in the previous year, the firm earned $0.28 EPS. Ares Capital’s revenue was up 15.3% on a year-over-year basis. sell-side analysts forecast that Ares Capital will post 1.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date of this dividend is Thursday, June 14th. Ares Capital’s dividend payout ratio (DPR) is 109.35%.
Ares Capital 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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