Ares Capital Corporation $ARCC Shares Acquired by Spinnaker Trust

Spinnaker Trust increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,276,014 shares of the investment management company’s stock after purchasing an additional 65,073 shares during the period. Ares Capital makes up approximately 1.3% of Spinnaker Trust’s portfolio, making the stock its 18th largest position. Spinnaker Trust owned about 0.18% of Ares Capital worth $22,994,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Palladiem LLC purchased a new position in shares of Ares Capital during the 4th quarter worth approximately $26,000. SWAN Capital LLC purchased a new stake in shares of Ares Capital in the third quarter valued at approximately $27,000. Sankala Group LLC acquired a new position in Ares Capital during the fourth quarter worth $28,000. Core Wealth Advisors LLC acquired a new position in Ares Capital during the fourth quarter worth $33,000. Finally, Quarry LP purchased a new position in Ares Capital in the third quarter worth $33,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARCC. B. Riley Financial reduced their target price on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Royal Bank Of Canada decreased their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 target price (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Finally, UBS Group reduced their price target on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.65.

Ares Capital Trading Up 1.8%

NASDAQ:ARCC opened at $18.51 on Tuesday. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $23.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $18.72 and a 200-day simple moving average of $19.16. The company has a market capitalization of $13.29 billion, a PE ratio of 11.36 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company posted $0.50 earnings per share. Ares Capital’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Ares Capital Corporation will post 1.91 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, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is 117.79%.

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.