Concurrent Investment Advisors LLC Buys 88,558 Shares of Ares Capital Corporation $ARCC

Concurrent Investment Advisors LLC raised its stake in Ares Capital Corporation (NASDAQ:ARCC) by 132.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 155,429 shares of the investment management company’s stock after buying an additional 88,558 shares during the period. Concurrent Investment Advisors LLC’s holdings in Ares Capital were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ARCC. Orion Capital Management LLC bought a new stake in shares of Ares Capital during the 2nd quarter worth about $25,000. Palladiem LLC bought a new position in Ares Capital in the 4th quarter valued at about $26,000. SWAN Capital LLC bought a new position in Ares Capital in the 3rd quarter valued at about $27,000. Sankala Group LLC acquired a new stake in Ares Capital during the fourth quarter worth approximately $28,000. Finally, Continuum Advisory LLC acquired a new stake in Ares Capital during the second quarter worth approximately $30,000. 27.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARCC shares. Truist Financial reduced their price objective on Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. UBS Group boosted their price target 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 lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC opened at $20.04 on Tuesday. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $22.51. The company’s 50 day moving average price is $19.33 and its two-hundred day moving average price is $18.86. The firm has a market cap of $14.39 billion, a PE ratio of 14.84 and a beta of 0.57. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14.

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, meeting analysts’ consensus estimates of $0.47. The company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. During the same period in the previous year, the business earned $0.50 earnings per share. Equities research analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s dividend payout ratio (DPR) is 142.22%.

About Ares Capital

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.