Ares Capital Corporation $ARCC Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC decreased its stake in Ares Capital Corporation (NASDAQ:ARCC) by 24.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 161,873 shares of the investment management company’s stock after selling 51,000 shares during the quarter. Curated Wealth Partners LLC’s holdings in Ares Capital were worth $3,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ARCC. Orion Capital Management LLC bought a new position in shares of Ares Capital during the 2nd quarter valued at $25,000. Fortitude Family Office LLC boosted its holdings in Ares Capital by 145.2% during the third quarter. Fortitude Family Office LLC now owns 1,297 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 768 shares during the period. Sankala Group LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at about $28,000. Continuum Advisory LLC acquired a new position in shares of Ares Capital during the 2nd quarter worth about $30,000. Finally, TOP Private Wealth LLC. acquired a new stake in shares of Ares Capital in the second quarter worth $31,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARCC shares. UBS Group upped their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Truist Financial decreased their price objective on Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price objective on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research report on Friday, September 4th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.39.

Ares Capital Trading Up 2.0%

Ares Capital stock traded up $0.36 during midday trading on Thursday, hitting $18.95. 2,085,157 shares of the stock were exchanged, compared to its average volume of 5,797,915. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $21.14. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $13.61 billion, a PE ratio of 14.03 and a beta of 0.61. The company has a fifty day simple moving average of $19.51 and a two-hundred day simple moving average of $18.96.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%. The business had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. During the same quarter in the previous year, the business posted $0.50 EPS. Equities research analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Ares Capital’s dividend payout ratio is presently 142.22%.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that operates as a business development company (BDC). It provides financing to middle-market companies, primarily through directly originated loans and other investments. Ares Capital seeks to support businesses that may require capital for acquisitions, growth initiatives, recapitalizations, refinancings and other corporate purposes.

The company invests across a range of industries and typically provides first-lien senior secured loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments.