Bruni J V & Co. Co. cut its stake in Ares Capital Corporation (NASDAQ:ARCC) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,939,839 shares of the investment management company’s stock after selling 15,065 shares during the quarter. Ares Capital Corporation comprises about 6.1% of Bruni J V & Co. Co.’s portfolio, making the stock its 7th biggest position. Bruni J V & Co. Co. owned approximately 0.46% of Ares Capital Corporation worth $31,794,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Ares Capital Corporation by 70.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,746 shares of the investment management company’s stock valued at $356,000 after acquiring an additional 8,974 shares during the period. Alpha Windward LLC increased its holdings in shares of Ares Capital Corporation by 4,144.7% in the 3rd quarter. Alpha Windward LLC now owns 29,925 shares of the investment management company’s stock valued at $490,000 after acquiring an additional 29,220 shares during the period. Summit X LLC increased its holdings in shares of Ares Capital Corporation by 61.8% in the 3rd quarter. Summit X LLC now owns 19,270 shares of the investment management company’s stock valued at $315,000 after acquiring an additional 7,360 shares during the period. Elliott Management Corp purchased a new position in shares of Ares Capital Corporation in the 2nd quarter valued at $18,343,000. Finally, Intl Fcstone Inc. purchased a new position in shares of Ares Capital Corporation in the 2nd quarter valued at $1,084,000. Institutional investors and hedge funds own 43.90% of the company’s stock.
Shares of Ares Capital Corporation (NASDAQ:ARCC) traded down $0.04 during mid-day trading on Monday, reaching $16.36. The company had a trading volume of 696,166 shares, compared to its average volume of 2,080,408. Ares Capital Corporation has a 1 year low of $15.48 and a 1 year high of $17.87. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7,000.00, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63.
Ares Capital Corporation (NASDAQ:ARCC) last announced its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Ares Capital Corporation had a return on equity of 8.60% and a net margin of 45.78%. The firm had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the previous year, the business earned $0.43 EPS. sell-side analysts predict that Ares Capital Corporation will post 1.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.29%. Ares Capital Corporation’s dividend payout ratio is currently 120.63%.
A number of research analysts have recently issued reports on the company. TheStreet downgraded Ares Capital Corporation from a “b” rating to a “c+” rating in a report on Monday, November 13th. Zacks Investment Research downgraded Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Monday, November 6th. National Securities reiterated a “buy” rating and issued a $19.00 price target on shares of Ares Capital Corporation in a report on Friday, November 3rd. Jefferies Group LLC restated a “buy” rating and set a $19.50 target price on shares of Ares Capital Corporation in a research note on Friday, November 3rd. Finally, Keefe, Bruyette & Woods set a $19.00 target price on Ares Capital Corporation and gave the stock a “buy” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Ares Capital Corporation has an average rating of “Buy” and an average target price of $18.06.
In other news, Director Michael J. Arougheti purchased 8,365 shares of the stock in a transaction on Friday, November 3rd. The stock was bought at an average price of $15.85 per share, with a total value of $132,585.25. Following the transaction, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have acquired 8,965 shares of company stock valued at $142,283. 0.45% of the stock is currently owned by insiders.
WARNING: “Ares Capital Corporation (ARCC) Shares Sold by Bruni J V & Co. Co.” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2017/11/20/ares-capital-corporation-arcc-shares-sold-by-bruni-j-v-co-co.html.
About Ares Capital Corporation
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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).
Receive News & Ratings for Ares Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.