Ares Capital Corporation $ARCC Holdings Raised by Magnus Financial Group LLC

Magnus Financial Group LLC raised its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 2.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 32,005 shares of the investment management company’s stock after purchasing an additional 686 shares during the period. Magnus Financial Group LLC’s holdings in Ares Capital were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vise Technologies Inc. purchased a new stake in shares of Ares Capital during the fourth quarter worth $214,000. Integrated Advisors Network LLC acquired a new position in Ares Capital in the 4th quarter worth about $308,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ares Capital by 14.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 305,583 shares of the investment management company’s stock worth $6,689,000 after purchasing an additional 38,624 shares in the last quarter. Penbrook Management LLC lifted its holdings in shares of Ares Capital by 23.9% during the 1st quarter. Penbrook Management LLC now owns 13,490 shares of the investment management company’s stock valued at $299,000 after buying an additional 2,600 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Ares Capital by 5,134.9% in the 1st quarter. AdvisorNet Financial Inc now owns 127,260 shares of the investment management company’s stock valued at $2,820,000 after buying an additional 124,829 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

NASDAQ ARCC opened at $20.56 on Friday. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a fifty day simple moving average of $22.24 and a 200 day simple moving average of $21.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The company has a market cap of $14.50 billion, a P/E ratio of 10.03 and a beta of 0.70.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The firm had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. During the same period in the prior year, the firm earned $0.61 EPS. On average, sell-side analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.3%. Ares Capital’s dividend payout ratio is presently 93.66%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARCC. B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their price objective for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. UBS Group raised their price target on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.