99,665 Shares in Ares Capital Corporation $ARCC Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, Holdings Channel.com reports. The fund acquired 99,665 shares of the investment management company’s stock, valued at approximately $1,847,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vista Investment Management acquired a new stake in shares of Ares Capital in the 2nd quarter valued at $198,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Ares Capital during the 2nd quarter worth $1,564,000. Commerce Bank acquired a new position in shares of Ares Capital during the 2nd quarter worth $1,145,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Ares Capital during the 2nd quarter worth $315,000. Finally, EP Wealth Advisors LLC acquired a new stake in Ares Capital in the second quarter valued at about $262,000. 27.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Oppenheimer dropped their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $20.40.

Ares Capital Stock Performance

Shares of ARCC stock opened at $19.90 on Thursday. The business’s 50-day moving average price is $19.02 and its 200-day moving average price is $18.83. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $22.51. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 14.74 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 (NASDAQ:ARCC) last released its quarterly earnings data 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 company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities research analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Announces Dividend

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

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.