Ares Capital Corporation $ARCC Shares Newly Bought by Titan Investment Management LLC

Titan Investment Management LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the third quarter, Holdings Channel.com reports. The firm bought 74,548 shares of the investment management company’s stock, valued at approximately $1,424,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Foresight Capital Management Advisors Inc. lifted its position in shares of Ares Capital by 17.2% during the second quarter. Foresight Capital Management Advisors Inc. now owns 345,778 shares of the investment management company’s stock worth $6,407,000 after acquiring an additional 50,624 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Ares Capital in the second quarter worth $747,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Ares Capital by 132.4% in the second quarter. Concurrent Investment Advisors LLC now owns 155,429 shares of the investment management company’s stock worth $2,880,000 after acquiring an additional 88,558 shares during the period. Bank of New York Mellon Corp grew its position in shares of Ares Capital by 53.5% in the first quarter. Bank of New York Mellon Corp now owns 240,483 shares of the investment management company’s stock valued at $4,333,000 after purchasing an additional 83,841 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Ares Capital by 9.5% in the second quarter. HighTower Advisors LLC now owns 3,870,130 shares of the investment management company’s stock valued at $71,714,000 after purchasing an additional 335,197 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of analyst reports. UBS Group boosted their price objective on Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. JPMorgan Chase & Co. decreased their price target on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Truist Financial lowered their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods cut 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. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $20.39.

Ares Capital Stock Up 2.1%

ARCC opened at $18.79 on Friday. The company has a fifty day moving average price of $19.35 and a 200-day moving average price of $18.99. The firm has a market capitalization of $13.49 billion, a P/E ratio of 13.92 and a beta of 0.61. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. Ares Capital Corporation has a one year low of $17.40 and a one year high of $21.14.

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, hitting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities research analysts expect that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 10.2%. Ares Capital’s dividend payout ratio (DPR) is currently 142.22%.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company primarily invests in first-lien senior secured loans, second-lien loans, subordinated debt, and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate activities.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management Corporation.