CCLA Investment Management Cuts Position in Ares Capital Corporation $ARCC

CCLA Investment Management trimmed its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,724,422 shares of the investment management company’s stock after selling 74,601 shares during the period. CCLA Investment Management owned about 0.39% of Ares Capital worth $59,801,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ARCC. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Ares Capital during the second quarter worth approximately $877,203,000. HighTower Advisors LLC increased its stake in shares of Ares Capital by 87.2% during the first quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock worth $58,084,000 after buying an additional 1,220,570 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Ares Capital during the first quarter worth approximately $14,766,000. SCS Capital Management LLC purchased a new stake in shares of Ares Capital during the first quarter worth approximately $11,778,000. Finally, Spinnaker Trust purchased a new stake in shares of Ares Capital during the first quarter worth approximately $11,390,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of ARCC opened at $20.08 on Monday. 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 firm has a market cap of $14.16 billion, a PE ratio of 9.80 and a beta of 0.68. The company’s 50 day simple moving average is $21.07 and its 200-day simple moving average is $21.55. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter last year, the business posted $0.61 earnings per share. As a group, equities analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ARCC shares. Keefe, Bruyette & Woods upped their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wells Fargo & Company increased their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. UBS Group dropped their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.63.

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.