Balboa Wealth Partners trimmed its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,196 shares of the investment management company’s stock after selling 901 shares during the quarter. Balboa Wealth Partners’ holdings in Ares Capital were worth $971,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Aurora Private Wealth Inc. lifted its position in Ares Capital by 1.5% in the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock valued at $636,000 after acquiring an additional 436 shares in the last quarter. Community Trust & Investment Co. raised its stake in shares of Ares Capital by 0.3% in the 2nd quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock valued at $3,296,000 after purchasing an additional 454 shares during the period. Prostatis Group LLC raised its stake in shares of Ares Capital by 2.1% in the 1st quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock valued at $482,000 after purchasing an additional 457 shares during the period. BankPlus Wealth Management LLC lifted its holdings in shares of Ares Capital by 2.5% in the first quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company’s stock valued at $439,000 after purchasing an additional 492 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its position in shares of Ares Capital by 3.1% during the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock worth $379,000 after buying an additional 516 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital Stock Down 0.1%
NASDAQ:ARCC opened at $19.51 on Monday. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 9.52 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average price is $21.33 and its two-hundred day moving average price is $21.53.
Ares Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.8%. Ares Capital’s payout ratio is currently 93.66%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ARCC. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and lifted their target price for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. Citigroup reaffirmed an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. UBS Group lowered their price objective on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.
Get Our Latest Stock Report on ARCC
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.
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