International Assets Investment Management LLC Purchases 37,567 Shares of Ares Capital Corporation $ARCC

International Assets Investment Management LLC lifted its position in Ares Capital Corporation (NASDAQ:ARCC) by 13.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 313,458 shares of the investment management company’s stock after acquiring an additional 37,567 shares during the period. International Assets Investment Management LLC’s holdings in Ares Capital were worth $6,341,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ARCC. SWAN Capital LLC acquired a new stake in Ares Capital during the 3rd quarter valued at $27,000. NBT Bank N A NY acquired a new stake in Ares Capital during the 3rd quarter valued at $31,000. Quarry LP acquired a new stake in Ares Capital during the 3rd quarter valued at $33,000. Ameriflex Group Inc. lifted its holdings in Ares Capital by 201.0% during the 3rd quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,178 shares during the last quarter. Finally, WFA of San Diego LLC acquired a new stake in Ares Capital during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Down 1.0%

ARCC opened at $18.96 on Friday. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.42. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $13.61 billion, a P/E ratio of 11.63 and a beta of 0.58. The stock has a fifty day moving average of $18.51 and a 200-day moving average of $19.59.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share 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 firm had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. During the same period in the prior year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. Ares Capital’s dividend payout ratio (DPR) is currently 117.79%.

Analyst Upgrades and Downgrades

ARCC has been the subject of several research reports. Truist Financial cut their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. B. Riley Financial cut their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Royal Bank Of Canada cut their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price target on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Finally, Citizens Jmp cut their price target on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.75.

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.