Bleakley Financial Group LLC Invests $239,000 in Ares Capital Corporation $ARCC

Bleakley Financial Group LLC acquired a new position in Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, HoldingsChannel reports. The firm acquired 10,871 shares of the investment management company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principle Wealth Partners LLC purchased a new stake in shares of Ares Capital in the second quarter worth approximately $257,000. Brookstone Capital Management grew its holdings in shares of Ares Capital by 22.7% in the second quarter. Brookstone Capital Management now owns 39,050 shares of the investment management company’s stock valued at $858,000 after acquiring an additional 7,214 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Ares Capital by 1.7% in the second quarter. Cullen Frost Bankers Inc. now owns 32,245 shares of the investment management company’s stock valued at $708,000 after acquiring an additional 540 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of Ares Capital by 78.3% in the second quarter. Bogart Wealth LLC now owns 5,246 shares of the investment management company’s stock valued at $115,000 after acquiring an additional 2,303 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Ares Capital by 4.9% in the second quarter. Chicago Partners Investment Group LLC now owns 564,302 shares of the investment management company’s stock valued at $13,018,000 after acquiring an additional 26,260 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARCC. Capital One Financial set a $22.50 target price on Ares Capital in a report on Friday, October 10th. 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. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $20.08 on Monday. The stock has a fifty day simple moving average of $21.07 and a two-hundred day simple moving average of $21.55. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 9.80 and a beta of 0.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $748.76 million. During the same period last year, the company posted $0.61 earnings per share. Analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.6%. Ares Capital’s dividend payout ratio is currently 93.66%.

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.