Pallas Capital Advisors LLC Takes $723,000 Position in Ares Capital Corporation $ARCC

Pallas Capital Advisors LLC acquired a new stake in Ares Capital Corporation (NASDAQ:ARCC) in the second quarter, Holdings Channel reports. The firm acquired 39,030 shares of the investment management company’s stock, valued at approximately $723,000.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of Ares Capital by 6.5% in the first quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock worth $365,000 after acquiring an additional 1,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ares Capital in the first quarter valued at $273,000. Goldman Sachs Group Inc. boosted its holdings in Ares Capital by 14.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock valued at $62,824,000 after purchasing an additional 358,829 shares during the period. Empowered Funds LLC boosted its holdings in Ares Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 16,128 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Ares Capital during the 1st quarter worth $14,766,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARCC. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Royal Bank Of Canada lowered their price objective 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. Oppenheimer cut 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, Keefe, Bruyette & Woods reduced their target price on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.40.

Ares Capital Trading Up 0.7%

Shares of Ares Capital stock opened at $19.80 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. The company has a fifty day simple moving average of $18.90 and a 200-day simple moving average of $18.81. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 14.67 and a beta of 0.56. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $22.53.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The firm had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. During the same period last year, the business earned $0.50 EPS. On average, equities analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.7%. Ares Capital’s payout ratio is 142.22%.

About Ares Capital

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.