Lido Advisors LLC Buys 226,460 Shares of Ares Capital Corporation $ARCC

Lido Advisors LLC lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 62.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 588,315 shares of the investment management company’s stock after acquiring an additional 226,460 shares during the quarter. Lido Advisors LLC’s holdings in Ares Capital were worth $12,919,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Aurora Private Wealth Inc. increased its holdings in Ares Capital by 1.5% during the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock worth $636,000 after purchasing an additional 436 shares during the period. Community Trust & Investment Co. grew its position in shares of Ares Capital by 0.3% during the 2nd quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock worth $3,296,000 after buying an additional 454 shares in the last quarter. Prostatis Group LLC increased its stake in shares of Ares Capital by 2.1% during the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock valued at $482,000 after buying an additional 457 shares during the period. Fountainhead AM LLC increased its stake in shares of Ares Capital by 5.5% during the second quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock valued at $214,000 after buying an additional 511 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in shares of Ares Capital by 3.1% in the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after acquiring an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ares Capital in a report on Monday, November 24th. Keefe, Bruyette & Woods lowered their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Citigroup reissued a “market outperform” rating on shares of Ares Capital in a research note on Thursday, October 30th. Finally, UBS Group lowered their target price on Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Ares Capital has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Insider Buying and Selling

In related news, CEO Michael Kort Schnabel bought 13,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the purchase, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Ares Capital Stock Up 0.9%

Ares Capital stock opened at $20.69 on Monday. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The business has a fifty day moving average price of $20.11 and a 200-day moving average price of $21.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 1.14. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of 10.34 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. Equities research analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio (DPR) is presently 96.00%.

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.