Yorktown Management & Research Co Inc grew its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,330,000 shares of the investment management company’s stock after buying an additional 80,000 shares during the period. Ares Capital Corporation accounts for approximately 10.0% of Yorktown Management & Research Co Inc’s portfolio, making the stock its largest position. Yorktown Management & Research Co Inc owned about 0.55% of Ares Capital Corporation worth $38,189,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Ares Capital Corporation by 11.4% in the third quarter. Pacer Advisors Inc. now owns 90,167 shares of the investment management company’s stock valued at $1,478,000 after buying an additional 9,241 shares during the last quarter. Alpine Woods Capital Investors LLC raised its holdings in shares of Ares Capital Corporation by 11.6% in the third quarter. Alpine Woods Capital Investors LLC now owns 852,900 shares of the investment management company’s stock valued at $13,979,000 after buying an additional 88,800 shares during the last quarter. Rational Advisors LLC purchased a new stake in shares of Ares Capital Corporation in the third quarter valued at about $1,762,000. Chartwell Investment Partners LLC raised its holdings in shares of Ares Capital Corporation by 12.6% in the third quarter. Chartwell Investment Partners LLC now owns 558,099 shares of the investment management company’s stock valued at $9,147,000 after buying an additional 62,499 shares during the last quarter. Finally, Wayne Hummer Investments L.L.C. purchased a new stake in shares of Ares Capital Corporation in the third quarter valued at about $183,000. 43.90% of the stock is owned by institutional investors and hedge funds.
In other Ares Capital Corporation news, Director Michael J. Arougheti purchased 8,365 shares of the stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $15.85 per share, for a total transaction of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders bought 8,965 shares of company stock worth $142,283 over the last quarter. Company insiders own 0.45% of the company’s stock.
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Ares Capital Corporation (NASDAQ:ARCC) remained flat at $$16.31 during mid-day trading on Tuesday. 578,288 shares of the company traded hands, compared to its average volume of 2,076,431. The firm has a market capitalization of $6,940.00, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63. Ares Capital Corporation has a 1-year low of $15.48 and a 1-year high of $17.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29.
Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million for the quarter, compared to analyst estimates of $295.02 million. Ares Capital Corporation had a net margin of 45.78% and a return on equity of 8.60%. During the same period in the prior year, the business earned $0.43 earnings per share. analysts predict that Ares Capital Corporation will post 1.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.32%. Ares Capital Corporation’s dividend payout ratio is presently 120.63%.
A number of research analysts have recently issued reports on ARCC shares. Jefferies Group LLC reiterated a “buy” rating and set a $19.50 price target on shares of Ares Capital Corporation in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. National Securities reiterated a “buy” rating and set a $19.00 price target on shares of Ares Capital Corporation in a research note on Monday, August 7th. Citigroup Inc. started coverage on shares of Ares Capital Corporation in a research note on Wednesday, September 20th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital Corporation and gave the stock a “buy” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.06.
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.
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