Global Retirement Partners LLC Takes Position in Ares Capital Corporation $ARCC

Global Retirement Partners LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCCFree Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 75,075 shares of the investment management company’s stock, valued at approximately $1,391,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Palladiem LLC purchased a new stake in shares of Ares Capital in the 4th quarter worth approximately $26,000. SWAN Capital LLC bought a new stake in Ares Capital during the third quarter valued at about $27,000. Sankala Group LLC bought a new position in Ares Capital in the fourth quarter worth about $28,000. Core Wealth Advisors LLC purchased a new stake in shares of Ares Capital during the fourth quarter valued at about $33,000. Finally, Quarry LP bought a new stake 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ARCC shares. Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Citizens Jmp lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Finally, Oppenheimer reduced their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.40.

Read Our Latest Report on Ares Capital

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $19.64 on Tuesday. The company has a 50 day simple moving average of $18.88 and a two-hundred day simple moving average of $18.82. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 14.55 and a beta of 0.56. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $22.62.

Ares Capital (NASDAQ:ARCCGet Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The business had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. During the same quarter last year, the company earned $0.50 EPS. As a group, analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.8%. Ares Capital’s dividend payout ratio is currently 142.22%.

Ares Capital Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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