MQS Management LLC Invests $915,000 in Ares Capital Corporation $ARCC

MQS Management LLC acquired a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) in the first quarter, Holdings Channel.com reports. The firm acquired 50,785 shares of the investment management company’s stock, valued at approximately $915,000. Ares Capital makes up about 0.6% of MQS Management LLC’s investment portfolio, making the stock its 11th largest position.

A number of other large investors have also made changes to their positions in ARCC. Spinnaker Trust lifted its stake in shares of Ares Capital by 5.4% in the first quarter. Spinnaker Trust now owns 1,276,014 shares of the investment management company’s stock valued at $22,994,000 after buying an additional 65,073 shares during the period. Brown Miller Wealth Management LLC raised its holdings in Ares Capital by 2.7% in the 1st quarter. Brown Miller Wealth Management LLC now owns 80,336 shares of the investment management company’s stock valued at $1,448,000 after acquiring an additional 2,138 shares in the last quarter. Intrua Financial LLC lifted its position in shares of Ares Capital by 18.7% in the 1st quarter. Intrua Financial LLC now owns 32,384 shares of the investment management company’s stock worth $584,000 after acquiring an additional 5,092 shares during the period. Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Ares Capital by 13.7% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 83,100 shares of the investment management company’s stock worth $1,497,000 after purchasing an additional 10,044 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of Ares Capital by 398.1% during the first quarter. Apollon Wealth Management LLC now owns 1,055,150 shares of the investment management company’s stock valued at $19,014,000 after purchasing an additional 843,313 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank Of Canada reduced their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Truist Financial reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. B. Riley Financial cut their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Citizens Jmp decreased their price objective on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average price target of $20.65.

Ares Capital Stock Up 0.1%

Shares of NASDAQ ARCC opened at $18.53 on Wednesday. The stock has a market cap of $13.30 billion, a PE ratio of 11.37 and a beta of 0.56. The business has a fifty day moving average of $18.71 and a two-hundred day moving average of $19.14. Ares Capital Corporation has a 52-week low of $17.40 and a 52-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.

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 the consensus estimate of $0.48 by ($0.01). The firm had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. As a group, equities research analysts expect that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend was Monday, June 15th. Ares Capital’s dividend payout ratio is currently 117.79%.

Ares Capital Company 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.