Bayshore Capital Advisors LLC Acquires 246,000 Shares of Ares Capital Corporation $ARCC

Bayshore Capital Advisors LLC purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 246,000 shares of the investment management company’s stock, valued at approximately $4,699,000. Ares Capital comprises approximately 2.4% of Bayshore Capital Advisors LLC’s holdings, making the stock its 10th largest position.

Other large investors have also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC bought a new position in shares of Ares Capital during the second quarter valued at approximately $747,000. Foresight Capital Management Advisors Inc. raised its holdings in shares of Ares Capital by 17.2% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 345,778 shares of the investment management company’s stock worth $6,407,000 after purchasing an additional 50,624 shares during the period. Concurrent Investment Advisors LLC lifted its stake 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 buying an additional 88,558 shares in the last quarter. HighTower Advisors LLC raised its stake in Ares Capital by 9.5% during 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. Finally, Bank of New York Mellon Corp grew its position in Ares Capital by 53.5% during the 1st quarter. Bank of New York Mellon Corp now owns 240,483 shares of the investment management company’s stock worth $4,333,000 after purchasing an additional 83,841 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

Ares Capital stock opened at $19.13 on Friday. The firm has a 50-day moving average of $19.16 and a two-hundred day moving average of $19.00. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 15.68 and a beta of 0.60. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.00 and a quick ratio of 1.00. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $21.14.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, October 27th. The investment management company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $763.00 million during the quarter, compared to analyst estimates of $776.34 million. Ares Capital had a net margin of 28.34% and a return on equity of 9.72%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, research analysts forecast that Ares Capital Corporation will post 1.88 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend is Tuesday, December 15th. Ares Capital’s dividend payout ratio is presently 157.38%.

Analysts Set New Price Targets

Several research firms have commented on ARCC. Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Keefe, Bruyette & Woods reduced their target price on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. UBS Group raised Ares Capital from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, October 29th. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research report on Wednesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research report on Friday, September 4th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and an average price target of $20.39.

Ares Capital Company 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.