Roman Butler Fullerton & Co. Takes Position in Ares Capital Corporation $ARCC

Roman Butler Fullerton & Co. purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, Holdings Channel reports. The institutional investor purchased 29,231 shares of the investment management company’s stock, valued at approximately $545,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ARCC. Palladiem LLC bought a new stake in Ares Capital during the 4th quarter valued at $26,000. SWAN Capital LLC purchased a new stake in shares of Ares Capital during the third quarter worth $27,000. Sankala Group LLC bought a new position in shares of Ares Capital in the fourth quarter worth $28,000. Core Wealth Advisors LLC purchased a new position in shares of Ares Capital in the fourth quarter valued at $33,000. Finally, Quarry LP purchased a new position in shares of Ares Capital in the third quarter valued at $33,000. 27.38% of the stock is owned by institutional investors.

Ares Capital Price Performance

ARCC stock opened at $19.87 on Monday. The company’s 50 day moving average is $18.86 and its 200 day moving average is $18.82. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 14.72 and a beta of 0.56. 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 1-year low of $17.40 and a 1-year high of $22.76.

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

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.48 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.7%. Ares Capital’s payout ratio is 142.22%.

Analyst Ratings Changes

A number of analysts recently issued reports on ARCC shares. JPMorgan Chase & Co. dropped their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Truist Financial reduced their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Citizens Jmp lowered their target price on shares of 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. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.40.

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.