OMERS ADMINISTRATION Corp boosted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 20.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,834,469 shares of the investment management company’s stock after buying an additional 474,414 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ares Capital were worth $51,077,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Palladiem LLC purchased a new position in Ares Capital in the fourth quarter valued at $26,000. SWAN Capital LLC purchased a new stake in Ares Capital during the 3rd quarter worth about $27,000. Sankala Group LLC purchased a new stake in Ares Capital during the 4th quarter worth about $28,000. Core Wealth Advisors LLC acquired a new stake in Ares Capital in the 4th quarter valued at about $33,000. Finally, Quarry LP purchased a new position in shares of Ares Capital in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.
Ares Capital Stock Up 0.9%
Shares of NASDAQ:ARCC opened at $18.78 on Friday. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.15. 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 firm’s 50-day simple moving average is $18.66 and its 200-day simple moving average is $18.97. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 11.52 and a beta of 0.56.
Ares Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.48 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.2%. Ares Capital’s dividend payout ratio is currently 117.79%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Finally, Citizens Jmp dropped their price objective on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Eight 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 an average rating of “Moderate Buy” and an average price target of $20.60.
Read Our Latest Research Report on ARCC
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.
Featured Articles
- Five stocks we like better than Ares Capital
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Corporation (NASDAQ:ARCC – Free Report).
Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.
