42,591 Shares in Ares Capital Corporation $ARCC Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 42,591 shares of the investment management company’s stock, valued at approximately $789,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Roman Butler Fullerton & Co. boosted its stake in shares of Ares Capital by 1.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock worth $504,000 after buying an additional 528 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Ares Capital by 5.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock valued at $213,000 after acquiring an additional 532 shares during the last quarter. CWS Financial Advisors LLC increased its position in shares of Ares Capital by 4.0% in the first quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after acquiring an additional 582 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in Ares Capital by 5.9% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock worth $202,000 after acquiring an additional 592 shares in the last quarter. Finally, Founders Financial Alliance LLC raised its holdings in Ares Capital by 1.8% during the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock worth $695,000 after acquiring an additional 620 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ares Capital Trading Down 0.2%

Ares Capital stock opened at $19.90 on Thursday. Ares Capital Corporation has a 52 week low of $17.40 and a 52 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. The stock has a market capitalization of $14.29 billion, a P/E ratio of 14.74 and a beta of 0.56. The stock has a 50-day simple moving average of $19.02 and a 200 day simple moving average of $18.83.

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

Ares Capital Announces Dividend

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

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.