Kestra Advisory Services LLC Sells 56,211 Shares of Ares Capital Corporation $ARCC

Kestra Advisory Services LLC reduced its position in Ares Capital Corporation (NASDAQ:ARCC) by 12.7% during the first quarter, HoldingsChannel.com reports. The firm owned 386,705 shares of the investment management company’s stock after selling 56,211 shares during the period. Kestra Advisory Services LLC’s holdings in Ares Capital were worth $6,968,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ARCC. Investment Partners Asset Management Inc. purchased a new position in Ares Capital during the 4th quarter valued at $1,314,000. Sound Income Strategies LLC increased its stake in Ares Capital by 5.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock worth $54,691,000 after purchasing an additional 138,857 shares during the period. Tectonic Advisors LLC increased its stake in Ares Capital by 10.8% in the fourth quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock worth $13,403,000 after purchasing an additional 64,491 shares during the period. Stableford Capital II LLC lifted its position in shares of Ares Capital by 75.7% during the fourth quarter. Stableford Capital II LLC now owns 145,641 shares of the investment management company’s stock worth $2,946,000 after purchasing an additional 62,768 shares during the last quarter. Finally, Prairiewood Capital LLC lifted its position in shares of Ares Capital by 22.9% during the fourth quarter. Prairiewood Capital LLC now owns 303,282 shares of the investment management company’s stock worth $6,135,000 after purchasing an additional 56,465 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of ARCC stock opened at $18.79 on Wednesday. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $18.65 and a two-hundred day simple moving average of $19.03. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 11.53 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $763.00 million for the quarter, compared to analysts’ expectations of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. On average, analysts predict that Ares Capital Corporation will post 1.9 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.2%. The ex-dividend date was Monday, June 15th. Ares Capital’s dividend payout ratio is presently 117.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Oppenheimer cut their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Citizens Jmp decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Royal Bank Of Canada dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

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.