HL Financial Services LLC lowered its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 39,157 shares of the investment management company’s stock after selling 1,475 shares during the period. HL Financial Services LLC’s holdings in Ares Capital Corporation were worth $641,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ARCC. Muzinich & Co. Inc. boosted 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. Toronto Dominion Bank boosted its stake in shares of Ares Capital Corporation by 781.3% in the first quarter. Toronto Dominion Bank now owns 1,692,000 shares of the investment management company’s stock valued at $29,403,000 after buying an additional 1,500,000 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Ares Capital Corporation by 46.5% in the first quarter. Bank of Montreal Can now owns 3,431,407 shares of the investment management company’s stock valued at $59,637,000 after buying an additional 1,089,635 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its stake in shares of Ares Capital Corporation by 59.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 2,267,080 shares of the investment management company’s stock valued at $39,402,000 after buying an additional 844,441 shares during the last quarter. Finally, Ares Management LLC boosted its stake in shares of Ares Capital Corporation by 55.2% in the first quarter. Ares Management LLC now owns 2,289,247 shares of the investment management company’s stock valued at $39,787,000 after buying an additional 814,552 shares during the last quarter. Hedge funds and other institutional investors own 48.34% of the company’s stock.

Ares Capital Corporation (ARCC) opened at 16.06 on Friday. The stock’s 50 day moving average price is $16.39 and its 200 day moving average price is $16.95. Ares Capital Corporation has a 12-month low of $15.01 and a 12-month high of $17.87.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis 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 analysts have issued reports on ARCC shares. Zacks Investment Research cut Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.50 price objective on shares of Ares Capital Corporation in a research note on Friday, June 16th. BidaskClub upgraded Ares Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. TheStreet cut Ares Capital Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, June 14th. Finally, National Securities raised Ares Capital Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.00 to $19.00 in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Ares Capital Corporation currently has a consensus rating of “Buy” and an average price target 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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