Bleakley Financial Group LLC Invests $239,000 in Ares Capital Corporation $ARCC

Bleakley Financial Group LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,871 shares of the investment management company’s stock, valued at approximately $239,000.

Other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of Ares Capital in the 1st quarter valued at about $30,000. Harbor Asset Planning Inc. bought a new stake in shares of Ares Capital in the 2nd quarter valued at about $38,000. Wolff Wiese Magana LLC bought a new stake in shares of Ares Capital in the 2nd quarter valued at about $40,000. Investment Management Corp VA ADV lifted its stake in shares of Ares Capital by 193.9% in the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,206 shares during the period. Finally, Archer Investment Corp lifted its stake in shares of Ares Capital by 281.3% in the 1st quarter. Archer Investment Corp now owns 2,440 shares of the investment management company’s stock valued at $54,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Wells Fargo & Company boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. JMP Securities set a $23.00 price objective on Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Finally, Citigroup reissued an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.63.

Ares Capital Stock Up 0.7%

ARCC stock opened at $20.08 on Monday. The stock’s 50 day simple moving average is $21.07 and its 200 day simple moving average is $21.55. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $14.16 billion, a P/E ratio of 9.80 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last posted its quarterly 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 last year, the company posted $0.61 earnings per share. On average, research analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is 93.66%.

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.