Copperwynd Financial LLC Sells 1,565 Shares of Ares Capital Corporation $ARCC

Copperwynd Financial LLC reduced its stake in Ares Capital Corporation (NASDAQ:ARCC) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,166 shares of the investment management company’s stock after selling 1,565 shares during the period. Ares Capital makes up approximately 0.9% of Copperwynd Financial LLC’s investment portfolio, making the stock its 24th biggest position. Copperwynd Financial LLC’s holdings in Ares Capital were worth $3,473,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Elequin Capital LP bought a new stake in Ares Capital during the first quarter worth $30,000. Continuum Advisory LLC lifted its stake in Ares Capital by 320.7% during the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,241 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in Ares Capital during the second quarter worth $40,000. Investment Management Corp VA ADV lifted its stake in Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,206 shares during the last quarter. Finally, PSI Advisors LLC lifted its stake in Ares Capital by 121.1% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after purchasing an additional 1,150 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

NASDAQ ARCC opened at $19.67 on Thursday. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 9.60 and a beta of 0.68. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The stock has a fifty day simple moving average of $21.75 and a 200 day simple moving average of $21.67. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same quarter in the previous year, the company earned $0.61 earnings per share. Sell-side analysts expect that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.86.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.