Ares Capital Corporation $ARCC Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC grew its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 347,257 shares of the investment management company’s stock after purchasing an additional 60,455 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Ares Capital were worth $7,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCC. UBS Group AG raised its holdings in Ares Capital by 41.8% during the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after purchasing an additional 3,301,890 shares in the last quarter. Marshall Wace LLP acquired a new stake in Ares Capital during the third quarter worth approximately $36,943,000. Legal & General Group Plc raised its holdings in Ares Capital by 16.4% during the fourth quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock worth $109,432,000 after purchasing an additional 761,838 shares in the last quarter. Bank of America Corp DE raised its holdings in Ares Capital by 8.9% during the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock worth $190,572,000 after purchasing an additional 705,882 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Ares Capital during the first quarter worth approximately $14,766,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of ARCC opened at $18.81 on Friday. 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 cap of $13.51 billion, a PE ratio of 11.54 and a beta of 0.58. The company’s 50 day simple moving average is $18.54 and its 200-day simple moving average is $19.44. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $23.42.

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

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is 117.79%.

Analyst Ratings Changes

A number of analysts have weighed in on ARCC shares. Oppenheimer cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Wells Fargo & Company lowered their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Royal Bank Of Canada lowered their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.75.

About Ares Capital

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.