Commerce Bank Acquires New Position in Ares Capital Corporation $ARCC

Commerce Bank bought a new position in Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 61,786 shares of the investment management company’s stock, valued at approximately $1,145,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Palladiem LLC purchased a new position in shares of Ares Capital during the fourth quarter worth approximately $26,000. SWAN Capital LLC purchased a new stake in shares of Ares Capital in the 3rd quarter valued at $27,000. Sankala Group LLC purchased a new position in shares of Ares Capital in the fourth quarter worth about $28,000. Core Wealth Advisors LLC bought a new position in Ares Capital during the 4th quarter worth approximately $33,000. Finally, Quarry LP purchased a new position in shares of Ares Capital in the third quarter worth $33,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Down 0.6%

ARCC opened at $19.93 on Wednesday. The stock has a market cap of $14.31 billion, a PE ratio of 14.76 and a beta of 0.56. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average of $18.99 and a 200-day moving average of $18.82. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $22.51.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $768.00 million for the quarter, compared to analyst estimates 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 company posted $0.50 earnings per share. Equities research analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s payout ratio is 142.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on ARCC. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. B. Riley Financial dropped their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Truist Financial cut their target price on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Oppenheimer reduced their price target 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. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

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.