Ares Capital Corp. (ARCC) Position Boosted by Green Square Capital LLC
Green Square Capital LLC boosted its stake in shares of Ares Capital Corp. (NASDAQ:ARCC) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,126 shares of the investment management company’s stock after buying an additional 21,381 shares during the period. Green Square Capital LLC’s holdings in Ares Capital Corp. were worth $2,515,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ARCC. LGT Capital Partners LTD. purchased a new stake in Ares Capital Corp. during the second quarter valued at about $26,128,000. BlackRock Group LTD increased its stake in Ares Capital Corp. by 32.7% in the first quarter. BlackRock Group LTD now owns 1,118,375 shares of the investment management company’s stock valued at $16,597,000 after buying an additional 275,856 shares in the last quarter. LPL Financial LLC increased its stake in Ares Capital Corp. by 18.2% in the first quarter. LPL Financial LLC now owns 1,212,534 shares of the investment management company’s stock valued at $17,958,000 after buying an additional 187,051 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Ares Capital Corp. during the first quarter valued at about $2,597,000. Finally, Willingdon Wealth Management purchased a new stake in Ares Capital Corp. during the second quarter valued at about $2,386,000. 49.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ares Capital Corp. (NASDAQ:ARCC) traded down 0.06% during midday trading on Wednesday, hitting $15.57. The stock had a trading volume of 1,944,320 shares. Ares Capital Corp. has a 52 week low of $12.31 and a 52 week high of $16.43. The stock’s 50-day moving average price is $15.73 and its 200 day moving average price is $14.96.
Ares Capital Corp. (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. Ares Capital Corp. had a net margin of 41.39% and a return on equity of 9.44%. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, analysts expect that Ares Capital Corp. will post $1.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.76%. Ares Capital Corp.’s dividend payout ratio (DPR) is presently 113.43%.
ARCC has been the topic of a number of recent research reports. Zacks Investment Research downgraded Ares Capital Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. National Securities initiated coverage on Ares Capital Corp. in a research report on Tuesday, June 28th. They issued a “neutral” rating and a $16.00 target price on the stock. JMP Securities lifted their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods lifted their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $17.50 target price on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.78.
In related news, insider Mitchell S. Goldstein acquired 6,472 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were bought at an average price of $15.45 per share, with a total value of $99,992.40. Following the transaction, the insider now directly owns 195,358 shares of the company’s stock, valued at $3,018,281.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.57% of the company’s stock.
Ares Capital Corp. Company Profile
Ares Capital Corporation is a specialty finance company that is 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. The Company invests primarily in the United States middle-market companies.
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