Thornburg Investment Management Inc. decreased its position in Ares Capital Co. (NASDAQ:ARCC) by 0.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 15,298,393 shares of the investment management company’s stock after selling 7,084 shares during the period. Ares Capital makes up 2.2% of Thornburg Investment Management Inc.’s portfolio, making the stock its 8th largest position. Thornburg Investment Management Inc.’s holdings in Ares Capital were worth $265,886,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of ARCC. Trexquant Investment LP bought a new stake in shares of Ares Capital during the first quarter worth about $1,613,000. Financial Advantage Inc. boosted its stake in shares of Ares Capital by 0.7% in the first quarter. Financial Advantage Inc. now owns 278,833 shares of the investment management company’s stock worth $4,846,000 after buying an additional 1,843 shares during the period. BW Gestao de Investimentos Ltda. bought a new stake in shares of Ares Capital during the first quarter worth about $520,000. HL Financial Services LLC boosted its stake in shares of Ares Capital by 24.0% in the first quarter. HL Financial Services LLC now owns 40,632 shares of the investment management company’s stock worth $706,000 after buying an additional 7,863 shares during the period. Finally, Argent Trust Co boosted its stake in shares of Ares Capital by 119.5% in the first quarter. Argent Trust Co now owns 39,507 shares of the investment management company’s stock worth $687,000 after buying an additional 21,506 shares during the period. 39.07% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital Co. (NASDAQ:ARCC) traded up 0.49% during mid-day trading on Friday, hitting $16.48. The company’s stock had a trading volume of 1,991,186 shares. Ares Capital Co. has a 52-week low of $13.85 and a 52-week high of $17.87. The stock has a market cap of $7.02 billion, a P/E ratio of 10.91 and a beta of 0.69. The company’s 50 day moving average is $17.13 and its 200-day moving average is $16.82.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, May 3rd. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $275 million during the quarter, compared to the consensus estimate of $294.92 million. Ares Capital had a return on equity of 9.57% and a net margin of 40.83%. During the same period last year, the company earned $0.42 EPS. On average, equities analysts predict that Ares Capital Co. will post $1.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.22%. The ex-dividend date is Tuesday, June 13th. Ares Capital’s dividend payout ratio (DPR) is 115.15%.
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A number of brokerages recently issued reports on ARCC. Janney Montgomery Scott reissued a “neutral” rating on shares of Ares Capital in a report on Monday. National Securities raised Ares Capital from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $19.00 in a report on Monday, May 8th. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Ares Capital in a report on Tuesday, April 11th. Jefferies Group LLC reissued a “buy” rating and set a $19.50 price objective on shares of Ares Capital in a report on Friday, April 7th. Finally, Citigroup Inc increased their price objective on Ares Capital from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ares Capital presently has an average rating of “Buy” and a consensus price target of $17.83.
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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