Plan Group Financial LLC acquired a new stake in Ares Capital Corporation (NASDAQ:ARCC – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 147,018 shares of the investment management company’s stock, valued at approximately $2,724,000.
Several other large investors have also bought and sold shares of the company. Palladiem LLC acquired a new position in Ares Capital during the fourth quarter worth about $26,000. SWAN Capital LLC acquired a new stake in Ares Capital in the 3rd quarter valued at about $27,000. Sankala Group LLC acquired a new stake in Ares Capital in the 4th quarter valued at about $28,000. Core Wealth Advisors LLC bought a new position in shares of Ares Capital during the 4th quarter valued at about $33,000. Finally, Quarry LP bought a new position in shares of Ares Capital during the 3rd quarter valued at about $33,000. Institutional investors own 27.38% of the company’s stock.
Ares Capital Trading Down 1.6%
NASDAQ:ARCC opened at $19.87 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $22.76. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 14.72 and a beta of 0.56. The stock has a fifty day simple moving average of $18.86 and a 200 day simple moving average of $18.83.
Ares Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 142.22%.
Analyst Upgrades and Downgrades
ARCC has been the topic of several recent research reports. Oppenheimer lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Truist Financial cut their target price on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Royal Bank Of Canada reduced their target price 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. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.
Check Out 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.
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