Morgan Dempsey Capital Management LLC Has $2,491,000 Position in Ares Capital Corp. (ARCC)
Morgan Dempsey Capital Management LLC raised its stake in shares of Ares Capital Corp. (NASDAQ:ARCC) by 29.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,425 shares of the investment management company’s stock after buying an additional 40,384 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Ares Capital Corp. were worth $2,491,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of ARCC. Schonfeld Strategic Advisors LLC acquired a new stake in Ares Capital Corp. during the first quarter valued at approximately $154,000. Legal & General Group Plc boosted its stake in Ares Capital Corp. by 27.4% in the first quarter. Legal & General Group Plc now owns 621,037 shares of the investment management company’s stock valued at $9,213,000 after buying an additional 133,464 shares during the period. Wealthsource Partners LLC acquired a new stake in Ares Capital Corp. during the first quarter valued at approximately $385,000. Geode Capital Management LLC acquired a new stake in Ares Capital Corp. during the first quarter valued at approximately $387,000. Finally, Loomis Sayles & Co. L P boosted its stake in Ares Capital Corp. by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 1,249,774 shares of the investment management company’s stock valued at $18,547,000 after buying an additional 8,642 shares during the period. Institutional investors own 49.35% of the company’s stock.
Ares Capital Corp. (NASDAQ:ARCC) remained flat at $15.54 during trading on Wednesday. The company had a trading volume of 1,979,499 shares. The stock’s 50-day moving average is $15.76 and its 200-day moving average is $15.06. Ares Capital Corp. has a 1-year low of $12.31 and a 1-year high of $16.43.
Ares Capital Corp. (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.39 earnings per share (EPS) for the quarter, topping the 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 period in the prior year, the company posted $0.37 earnings per share. Analysts predict that Ares Capital Corp. will post $1.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.79%. The ex-dividend date was Tuesday, September 13th. Ares Capital Corp.’s dividend payout ratio is currently 113.43%.
A number of brokerages have recently issued reports on ARCC. JMP Securities boosted their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 9th. Keefe, Bruyette & Woods boosted their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Jefferies Group reiterated a “buy” rating and set a $17.50 target price on shares of Ares Capital Corp. in a report on Thursday, August 4th. National Securities reiterated a “neutral” rating and set a $16.00 target price on shares of Ares Capital Corp. in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Ares Capital Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ares Capital Corp. presently has a consensus rating of “Buy” and a consensus price target of $16.71.
In other Ares Capital Corp. news, insider Mitchell S. Goldstein acquired 6,472 shares of Ares Capital Corp. stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average cost of $15.45 per share, with a total value of $99,992.40. Following the purchase, the insider now owns 195,358 shares in the company, valued at $3,018,281.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.
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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