FDx Advisors Inc. raised its stake in shares of Ares Capital (NASDAQ:ARCC) by 94.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,557 shares of the investment management company’s stock after buying an additional 10,482 shares during the quarter. FDx Advisors Inc.’s holdings in Ares Capital were worth $342,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ARCC. Bessemer Group Inc. grew its position in shares of Ares Capital by 14,542.3% in the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 7,562 shares during the period. Van Cleef Asset Management Inc acquired a new position in shares of Ares Capital in the 4th quarter valued at approximately $157,000. Cypress Capital Management LLC WY grew its position in shares of Ares Capital by 133.3% in the 4th quarter. Cypress Capital Management LLC WY now owns 10,500 shares of the investment management company’s stock valued at $165,000 after purchasing an additional 6,000 shares during the period. Csenge Advisory Group acquired a new position in shares of Ares Capital in the 4th quarter valued at approximately $169,000. Finally, Opus Capital Group LLC acquired a new position in shares of Ares Capital in the 4th quarter valued at approximately $171,000. Institutional investors own 42.77% of the company’s stock.
In related news, insider Michael J. Arougheti acquired 25,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were bought at an average price of $15.60 per share, for a total transaction of $390,000.00. Following the purchase, the insider now directly owns 984,535 shares in the company, valued at approximately $15,358,746. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have bought 25,600 shares of company stock worth $399,574. Company insiders own 0.49% of the company’s stock.
Several equities analysts recently issued reports on ARCC shares. Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, April 24th. National Securities reiterated a “buy” rating and issued a $19.00 price objective on shares of Ares Capital in a research report on Thursday, February 15th. Oppenheimer set a $18.00 price target on Ares Capital and gave the stock a “buy” rating in a research report on Tuesday, February 13th. BidaskClub raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. Finally, ValuEngine downgraded Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Ares Capital has a consensus rating of “Buy” and a consensus target price of $17.91.
Ares Capital opened at $16.57 on Friday, MarketBeat Ratings reports. Ares Capital has a twelve month low of $16.49 and a twelve month high of $16.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 3.48 and a beta of 0.58.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, May 2nd. The investment management company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Ares Capital had a return on equity of 8.80% and a net margin of 65.81%. The firm had revenue of $317.00 million during the quarter, compared to the consensus estimate of $309.81 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The business’s revenue was up 15.3% on a year-over-year basis. sell-side analysts forecast that Ares Capital will post 1.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.17%. The ex-dividend date is Thursday, June 14th. Ares Capital’s dividend payout ratio is currently 109.35%.
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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