41,020 Shares in Ares Capital Corporation $ARCC Purchased by FORA Capital LLC

FORA Capital LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the first quarter, HoldingsChannel reports. The institutional investor bought 41,020 shares of the investment management company’s stock, valued at approximately $909,000.

A number of other hedge funds have also recently bought and sold shares of the company. MML Investors Services LLC boosted its position in shares of Ares Capital by 1.3% in the 4th quarter. MML Investors Services LLC now owns 74,687 shares of the investment management company’s stock valued at $1,635,000 after purchasing an additional 946 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Ares Capital by 29.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 44,739 shares of the investment management company’s stock valued at $979,000 after purchasing an additional 10,140 shares during the period. Beacon Pointe Advisors LLC boosted its position in shares of Ares Capital by 15.3% in the 4th quarter. Beacon Pointe Advisors LLC now owns 263,590 shares of the investment management company’s stock valued at $5,770,000 after purchasing an additional 35,008 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Ares Capital by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 233,456 shares of the investment management company’s stock valued at $5,110,000 after purchasing an additional 11,355 shares during the period. Finally, Lido Advisors LLC boosted its position in shares of Ares Capital by 16.5% in the 4th quarter. Lido Advisors LLC now owns 353,577 shares of the investment management company’s stock valued at $7,740,000 after purchasing an additional 49,982 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group increased their price target on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. JMP Securities set a $23.00 price target on Ares Capital and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Royal Bank Of Canada decreased their price target on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Trading Up 0.3%

Shares of NASDAQ ARCC opened at $22.31 on Thursday. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The firm has a market capitalization of $15.74 billion, a PE ratio of 10.88 and a beta of 0.70. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $22.43 and a two-hundred day moving average price of $21.95.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The business had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 8.6%. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.