Ieq Capital LLC Takes $1.78 Million Position in Ares Capital Corporation $ARCC

Ieq Capital LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,304 shares of the investment management company’s stock, valued at approximately $1,785,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ARCC. Foresight Capital Management Advisors Inc. raised its position in shares of Ares Capital by 17.2% in the second quarter. Foresight Capital Management Advisors Inc. now owns 345,778 shares of the investment management company’s stock valued at $6,407,000 after buying an additional 50,624 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Ares Capital by 53.5% during the 1st quarter. Bank of New York Mellon Corp now owns 240,483 shares of the investment management company’s stock worth $4,333,000 after acquiring an additional 83,841 shares during the period. UBS Group AG increased its stake in Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after acquiring an additional 3,301,890 shares during the period. Spinnaker Trust raised its holdings in Ares Capital by 17.0% in the 4th quarter. Spinnaker Trust now owns 1,210,941 shares of the investment management company’s stock valued at $24,497,000 after acquiring an additional 176,040 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in Ares Capital by 9.7% in the 4th quarter. iA Global Asset Management Inc. now owns 901,098 shares of the investment management company’s stock valued at $18,229,000 after acquiring an additional 79,736 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Down 0.6%

Shares of ARCC stock opened at $19.93 on Wednesday. The stock’s fifty day moving average price is $18.99 and its two-hundred day moving average price is $18.82. The company has a market cap of $14.31 billion, a PE ratio of 14.76 and a beta of 0.56. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $22.51. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.The company had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. During the same quarter last year, the company posted $0.50 EPS. Equities analysts predict that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s payout ratio is currently 142.22%.

Analyst Ratings Changes

Several analysts have recently issued reports on ARCC shares. Keefe, Bruyette & Woods reduced their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. B. Riley Financial dropped their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Truist Financial cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Finally, Royal Bank Of Canada decreased their target price 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. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

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.