International Assets Investment Management LLC Raises Stock Position in Ares Capital Corporation $ARCC

International Assets Investment Management LLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 9.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 206,047 shares of the investment management company’s stock after purchasing an additional 18,341 shares during the quarter. International Assets Investment Management LLC’s holdings in Ares Capital were worth $4,546,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Elequin Capital LP bought a new position in shares of Ares Capital during the 1st quarter valued at about $30,000. Continuum Advisory LLC boosted its holdings in shares of Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of Ares Capital during the 2nd quarter valued at about $38,000. Wolff Wiese Magana LLC bought a new position in shares of Ares Capital during the 2nd quarter valued at about $40,000. Finally, Investment Management Corp VA ADV boosted its holdings in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,206 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 0.1%

Shares of NASDAQ ARCC opened at $19.51 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $13.76 billion, a P/E ratio of 9.52 and a beta of 0.68. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The firm has a 50-day simple moving average of $21.33 and a two-hundred day simple moving average of $21.53.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $614.00 million during the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same period in the previous year, the business earned $0.61 EPS. Research analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.8%. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

Analysts Set New Price Targets

Several research analysts have commented on ARCC shares. Keefe, Bruyette & Woods increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. UBS Group dropped their price objective on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. JPMorgan Chase & Co. dropped their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Finally, Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and an average price target of $22.63.

Ares Capital Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.