Div Capital Phoenix Assets Ltd Invests $1.17 Million in Ares Capital Corporation $ARCC

Div Capital Phoenix Assets Ltd purchased a new position in Ares Capital Corporation (NASDAQ:ARCC) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 57,729 shares of the investment management company’s stock, valued at approximately $1,168,000. Ares Capital comprises about 0.3% of Div Capital Phoenix Assets Ltd’s portfolio, making the stock its 11th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Founders Financial Alliance LLC boosted its stake in shares of Ares Capital by 1.8% in the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock worth $695,000 after acquiring an additional 620 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in Ares Capital by 10.0% during the fourth quarter. Great Valley Advisor Group Inc. now owns 18,201 shares of the investment management company’s stock worth $368,000 after buying an additional 1,649 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Ares Capital during the fourth quarter worth $392,000. Sepio Capital LP acquired a new position in Ares Capital during the fourth quarter worth $263,000. Finally, Gateway Wealth Partners LLC boosted its stake in Ares Capital by 11.4% during the fourth quarter. Gateway Wealth Partners LLC now owns 127,292 shares of the investment management company’s stock worth $2,575,000 after buying an additional 13,051 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARCC. Keefe, Bruyette & Woods lowered their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. B. Riley Financial lowered their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citizens Jmp lowered their price objective on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday. Finally, Oppenheimer lowered their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.75.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $19.07 on Friday. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42. The business’s fifty day simple moving average is $18.73 and its 200-day simple moving average is $19.37. The firm has a market cap of $13.69 billion, a PE ratio of 11.70 and a beta of 0.56. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13.

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

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio is 117.79%.

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.