Virtu Financial LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 82,612 shares of the investment management company’s stock, valued at approximately $1,671,000.
Other hedge funds have also made changes to their positions in the company. Palladiem LLC bought a new position in Ares Capital during the 4th quarter valued at $26,000. SWAN Capital LLC bought a new position in Ares Capital during the 3rd quarter worth approximately $27,000. Core Wealth Advisors LLC bought a new position in Ares Capital during the 4th quarter worth approximately $33,000. Quarry LP acquired a new position in shares of Ares Capital in the 3rd quarter worth approximately $33,000. Finally, Ameriflex Group Inc. grew its position in shares of Ares Capital by 201.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock worth $36,000 after acquiring an additional 1,178 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ARCC. Oppenheimer dropped 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. B. Riley Financial lowered their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Finally, Truist Financial lowered their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.65.
Ares Capital Price Performance
ARCC stock opened at $18.03 on Friday. The firm’s 50-day moving average is $18.77 and its two-hundred day moving average is $19.29. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 11.06 and a beta of 0.56. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13.
Ares Capital (NASDAQ:ARCC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The company had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. During the same quarter last year, the business earned $0.50 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio is 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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