Border to Coast Pensions Partnership Ltd Purchases 225,000 Shares of Ares Capital Corporation $ARCC

Border to Coast Pensions Partnership Ltd raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,200,000 shares of the investment management company’s stock after purchasing an additional 225,000 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Ares Capital were worth $39,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. UBS Group AG raised its stake in shares of Ares Capital by 41.8% in the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after buying an additional 3,301,890 shares during the period. Marshall Wace LLP bought a new position in shares of Ares Capital during the 3rd quarter worth $36,943,000. Altshuler Shaham Ltd bought a new position in shares of Ares Capital during the 4th quarter worth $33,380,000. Michael & Susan Dell Foundation purchased a new stake in Ares Capital in the 4th quarter worth about $26,089,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Ares Capital in the 4th quarter worth about $20,399,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $18.21 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.42. The stock has a market cap of $13.08 billion, a PE ratio of 11.17 and a beta of 0.56. The stock has a fifty day moving average of $18.73 and a 200-day moving average of $19.19.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The company had revenue of $763.00 million for the quarter, compared to analysts’ expectations of $778.00 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.5%. Ares Capital’s dividend payout ratio is currently 117.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARCC. B. Riley Financial lowered their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Oppenheimer reduced their target price 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. JPMorgan Chase & Co. lowered their price target on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Truist Financial dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, UBS Group dropped their price target on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.65.

Ares Capital 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.