Pekin Singer Strauss Asset Management IL increased its stake in Ares Capital Corporation (NASDAQ:ARCC) by 97.8% during the second quarter, Holdings Channel reports. The fund owned 74,865 shares of the investment management company’s stock after buying an additional 37,015 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Ares Capital Corporation were worth $1,226,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the company. Muzinich & Co. Inc. increased its stake in shares of Ares Capital Corporation by 67.0% in the first quarter. Muzinich & Co. Inc. now owns 13,549,229 shares of the investment management company’s stock valued at $235,486,000 after buying an additional 5,436,225 shares during the last quarter. FMR LLC increased its stake in shares of Ares Capital Corporation by 2.9% in the first quarter. FMR LLC now owns 8,830,287 shares of the investment management company’s stock valued at $153,471,000 after buying an additional 251,747 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Ares Capital Corporation by 4.6% in the first quarter. Ameriprise Financial Inc. now owns 5,416,985 shares of the investment management company’s stock valued at $94,188,000 after buying an additional 240,664 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of Ares Capital Corporation by 4.9% in the second quarter. Confluence Investment Management LLC now owns 4,895,029 shares of the investment management company’s stock valued at $80,181,000 after buying an additional 229,670 shares during the last quarter. Finally, Edge Asset Management Inc. increased its stake in shares of Ares Capital Corporation by 2.7% in the first quarter. Edge Asset Management Inc. now owns 3,514,060 shares of the investment management company’s stock valued at $61,075,000 after buying an additional 92,631 shares during the last quarter. Institutional investors and hedge funds own 48.34% of the company’s stock.

Ares Capital Corporation (ARCC) opened at 16.06 on Friday. Ares Capital Corporation has a one year low of $15.01 and a one year high of $17.87. The firm’s 50 day moving average price is $16.39 and its 200-day moving average price is $16.95.

Ares Capital Corporation (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $284 million during the quarter, compared to analyst estimates of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same period in the prior year, the company earned $0.50 earnings per share. On average, analysts anticipate that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.46%. The ex-dividend date of this dividend is Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio (DPR) is currently 117.83%.

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Several equities research analysts have recently issued reports on ARCC shares. Zacks Investment Research downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Ares Capital Corporation in a research note on Monday, May 15th. BMO Capital Markets reiterated a “hold” rating and set a $15.00 price target on shares of Ares Capital Corporation in a research note on Thursday, June 1st. BidaskClub downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, TheStreet downgraded shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.00.

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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Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

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