Ares Capital Corp. (ARCC) Position Boosted by Green Square Capital LLC
Green Square Capital LLC raised its stake in shares of Ares Capital Corp. (NASDAQ:ARCC) by 13.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ARCC. Schonfeld Strategic Advisors LLC purchased a new position in shares of Ares Capital Corp. during the first quarter valued at $154,000. Boulegeris Investments Inc. raised its position in shares of Ares Capital Corp. by 2.7% in the second quarter. Boulegeris Investments Inc. now owns 13,100 shares of the investment management company’s stock valued at $186,000 after buying an additional 350 shares during the last quarter. Wealthsource Partners LLC purchased a new position in shares of Ares Capital Corp. during the first quarter valued at $385,000. Geode Capital Management LLC purchased a new position in shares of Ares Capital Corp. during the first quarter valued at $387,000. Finally, IFP Advisors Inc raised its position in shares of Ares Capital Corp. by 1.3% in the first quarter. IFP Advisors Inc now owns 31,740 shares of the investment management company’s stock valued at $471,000 after buying an additional 412 shares during the last quarter. 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 mid-day trading on Wednesday, reaching $15.57. The company had a trading volume of 1,944,320 shares. The firm’s 50-day moving average is $15.73 and its 200 day moving average is $14.96. Ares Capital Corp. has a 12 month low of $12.31 and a 12 month high of $16.43.
Ares Capital Corp. (NASDAQ:ARCC) last posted its earnings results on Wednesday, August 3rd. The investment management company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Ares Capital Corp. had a return on equity of 9.44% and a net margin of 41.39%. During the same quarter last year, the firm earned $0.37 EPS. On average, analysts anticipate that Ares Capital Corp. will post $1.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.52 annualized dividend and a yield of 9.76%. Ares Capital Corp.’s dividend payout ratio is presently 113.43%.
Several research analysts have weighed in on ARCC shares. 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. JMP Securities upped their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Zacks Investment Research lowered Ares Capital Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. National Securities started 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. Finally, Keefe, Bruyette & Woods upped their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $16.78.
In other Ares Capital Corp. news, insider Mitchell S. Goldstein bought 6,472 shares of Ares Capital Corp. stock in a transaction on Monday, August 15th. The shares were purchased at an average cost of $15.45 per share, for a total transaction of $99,992.40. Following the completion of the acquisition, the insider now owns 195,358 shares in the company, valued at approximately $3,018,281.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.
About Ares Capital Corp.
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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