Cornerstone Advisory LLP bought a new stake in Ares Capital (NASDAQ:ARCC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,690 shares of the investment management company’s stock, valued at approximately $186,000.
A number of other large investors have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ares Capital by 118.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,600,653 shares of the investment management company’s stock valued at $72,322,000 after purchasing an additional 2,494,297 shares in the last quarter. Bruni J V & Co. Co. lifted its holdings in shares of Ares Capital by 6.5% in the first quarter. Bruni J V & Co. Co. now owns 2,428,309 shares of the investment management company’s stock valued at $38,537,000 after purchasing an additional 148,192 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Ares Capital by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 2,288,552 shares of the investment management company’s stock valued at $35,976,000 after purchasing an additional 21,785 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Ares Capital by 1,217.0% in the fourth quarter. Two Sigma Investments LP now owns 1,739,696 shares of the investment management company’s stock valued at $27,348,000 after purchasing an additional 1,607,603 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its holdings in shares of Ares Capital by 8.0% in the first quarter. Advisors Capital Management LLC now owns 1,646,722 shares of the investment management company’s stock valued at $26,133,000 after purchasing an additional 122,320 shares in the last quarter. 41.27% of the stock is owned by hedge funds and other institutional investors.
ARCC opened at $16.74 on Thursday. Ares Capital has a 52-week low of $15.03 and a 52-week high of $16.96. The stock has a market cap of $7.11 billion, a P/E ratio of 12.04, a P/E/G ratio of 3.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, May 2nd. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $317.00 million for the quarter, compared to analyst estimates of $309.81 million. Ares Capital had a return on equity of 8.80% and a net margin of 65.81%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. equities research analysts predict that Ares Capital will post 1.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.52 annualized dividend and a yield of 9.08%. Ares Capital’s dividend payout ratio is 109.35%.
A number of brokerages have recently commented on ARCC. National Securities restated a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a report on Tuesday, May 15th. BidaskClub upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Friday, May 4th. Oppenheimer set a $18.00 target price on Ares Capital and gave the stock a “buy” rating in a report on Thursday, May 3rd. Zacks Investment Research lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Finally, ValuEngine lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.91.
In other Ares Capital news, insider Michael J. Arougheti acquired 25,000 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were purchased at an average price of $15.60 per share, for a total transaction of $390,000.00. Following the completion of the purchase, the insider now directly owns 984,535 shares of the company’s stock, valued at $15,358,746. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 25,800 shares of company stock worth $402,892 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.
About Ares Capital
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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