Palogic Value Management L.P. Makes New $2.06 Million Investment in Ares Capital Corporation $ARCC

Palogic Value Management L.P. bought a new position in Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 110,948 shares of the investment management company’s stock, valued at approximately $2,056,000.

Other hedge funds also recently bought and sold shares of the company. Roman Butler Fullerton & Co. boosted its position in Ares Capital by 1.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after acquiring an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Ares Capital by 5.3% during the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock valued at $213,000 after acquiring an additional 532 shares in the last quarter. CWS Financial Advisors LLC grew its holdings in shares of Ares Capital by 4.0% during the first quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after buying an additional 582 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of Ares Capital by 5.9% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock valued at $202,000 after buying an additional 592 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its position in shares of Ares Capital by 1.8% in the 4th quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock valued at $695,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

NASDAQ ARCC opened at $19.90 on Thursday. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 14.74 and a beta of 0.56. The stock has a 50-day moving average of $19.02 and a 200 day moving average of $18.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $22.51.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same period in the previous year, the business earned $0.50 earnings per share. Sell-side analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Ares Capital’s payout ratio is presently 142.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARCC shares. Oppenheimer reduced their price objective 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. B. Riley Financial decreased their price objective on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Finally, Royal Bank Of Canada reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Ares Capital 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.