Ocean Park Asset Management LLC Makes New Investment in Ares Capital Corporation $ARCC

Ocean Park Asset Management LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the first quarter, Holdings Channel.com reports. The firm bought 33,039 shares of the investment management company’s stock, valued at approximately $595,000.

Other hedge funds have also modified their holdings of the company. Palladiem LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at approximately $26,000. SWAN Capital LLC bought a new position in Ares Capital in the 3rd quarter worth approximately $27,000. Sankala Group LLC acquired a new position in Ares Capital during the 4th quarter worth $28,000. Core Wealth Advisors LLC acquired a new position in Ares Capital during the 4th quarter worth $33,000. Finally, Quarry LP bought a new position in Ares Capital in the 3rd quarter valued at $33,000. 27.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARCC shares. Oppenheimer lowered their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. UBS Group cut their price target on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Royal Bank Of Canada decreased their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Truist Financial lowered their price objective on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.65.

Ares Capital Price Performance

Ares Capital stock opened at $18.03 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $12.95 billion, a P/E ratio of 11.06 and a beta of 0.56. The business has a 50-day moving average of $18.77 and a 200-day moving average of $19.28. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio is presently 117.79%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.