Ares Capital Corporation $ARCC Shares Sold by CCLA Investment Management

CCLA Investment Management cut its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,724,422 shares of the investment management company’s stock after selling 74,601 shares during the quarter. CCLA Investment Management’s holdings in Ares Capital were worth $59,801,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Elequin Capital LP acquired a new stake in shares of Ares Capital during the first quarter worth $30,000. CNB Bank acquired a new stake in shares of Ares Capital during the second quarter worth $36,000. Harbor Asset Planning Inc. acquired a new stake in shares of Ares Capital during the second quarter worth $38,000. Wolff Wiese Magana LLC acquired a new stake in shares of Ares Capital during the second quarter worth $40,000. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,206 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Citigroup reissued an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. JPMorgan Chase & Co. reduced their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. UBS Group reduced their target price on Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, JMP Securities set a $23.00 target price on Ares Capital and gave the company a “market outperform” rating in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Ares Capital Trading Up 0.7%

Shares of ARCC stock opened at $20.08 on Monday. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The stock has a market cap of $14.16 billion, a P/E ratio of 9.80 and a beta of 0.68. The business has a fifty day simple moving average of $21.07 and a 200-day simple moving average of $21.55. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01.

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

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.48 dividend. The ex-dividend date was Monday, 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 currently 93.66%.

About Ares Capital

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.