Denali Advisors LLC Sells 13,109 Shares of Ares Capital Corporation $ARCC

Denali Advisors LLC decreased its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 563,451 shares of the investment management company’s stock after selling 13,109 shares during the quarter. Ares Capital comprises about 1.3% of Denali Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Denali Advisors LLC owned about 0.08% of Ares Capital worth $12,373,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Elequin Capital LP bought a new position in shares of Ares Capital in the first quarter valued at approximately $30,000. Continuum Advisory LLC grew its holdings in Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after acquiring an additional 1,241 shares during the period. Harbor Asset Planning Inc. acquired a new stake in Ares Capital during the 2nd quarter worth $38,000. Wolff Wiese Magana LLC acquired a new position in shares of Ares Capital in the 2nd quarter valued at $40,000. Finally, Investment Management Corp VA ADV grew its holdings in shares of Ares Capital by 193.9% in the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after buying an additional 1,206 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC opened at $19.91 on Wednesday. The company’s 50 day moving average price is $21.22 and its two-hundred day moving average price is $21.52. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The firm has a market cap of $14.04 billion, a PE ratio of 9.71 and a beta of 0.68. 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 announced its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The business had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. During the same quarter in the previous year, the company earned $0.61 EPS. Equities research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend yield of 9.6%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is 93.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup reissued an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Ares Capital Profile

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.