Van ECK Associates Corp lowered its position in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,673,579 shares of the investment management company’s stock after selling 334,932 shares during the quarter. Van ECK Associates Corp owned 1.77% of Ares Capital worth $256,387,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ARCC. AQR Capital Management LLC grew its holdings in Ares Capital by 6.5% during the first quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock valued at $365,000 after purchasing an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Ares Capital during the first quarter valued at approximately $273,000. Goldman Sachs Group Inc. grew its holdings in Ares Capital by 14.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock valued at $62,824,000 after purchasing an additional 358,829 shares during the period. Empowered Funds LLC grew its holdings in Ares Capital by 139.9% during the first quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 16,128 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Ares Capital during the first quarter valued at approximately $14,766,000. Institutional investors and hedge funds own 27.38% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on ARCC. Royal Bank Of Canada decreased their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Truist Financial reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Citizens Jmp reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. UBS Group reduced their price target on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, B. Riley Financial reduced their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.65.
Ares Capital Stock Up 1.0%
Ares Capital stock opened at $19.26 on Friday. The stock has a market capitalization of $13.83 billion, a PE ratio of 11.82 and a beta of 0.56. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13. The company has a 50 day moving average of $18.76 and a 200-day moving average of $19.37.
Ares Capital (NASDAQ:ARCC – Get Free Report) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, June 15th. This represents a $1.92 annualized dividend and a yield of 10.0%. Ares Capital’s dividend payout ratio is presently 117.79%.
Ares Capital Company 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.
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