43,000 Shares in Ares Capital Corporation $ARCC Bought by Port Capital LLC

Port Capital LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,000 shares of the investment management company’s stock, valued at approximately $797,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gallagher Fiduciary Advisors LLC bought a new position in shares of Ares Capital during the 2nd quarter worth about $241,000. Hsbc Holdings PLC bought a new stake in Ares Capital in the second quarter valued at about $1,225,000. Palisade Capital Management LP bought a new stake in Ares Capital in the second quarter valued at about $6,729,000. Legal & General Group Plc acquired a new position in Ares Capital in the second quarter worth about $120,538,000. Finally, Palliser Capital UK Ltd acquired a new position in Ares Capital in the second quarter worth about $258,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Royal Bank Of Canada cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Finally, B. Riley Financial decreased their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Ares Capital Stock Down 0.2%

NASDAQ:ARCC opened at $19.90 on Thursday. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $22.51. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 14.74 and a beta of 0.56. The stock’s fifty day moving average price is $19.02 and its two-hundred day moving average price is $18.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The company had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $770.19 million. During the same quarter last year, the company posted $0.50 EPS. On average, analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.6%. Ares Capital’s dividend payout ratio (DPR) is 142.22%.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.