Ares Capital Corporation $ARCC Shares Bought by Lido Advisors LLC

Lido Advisors LLC grew its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 838,016 shares of the investment management company’s stock after buying an additional 61,362 shares during the quarter. Lido Advisors LLC owned 0.12% of Ares Capital worth $16,006,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Focus Partners Advisor Solutions LLC acquired a new position in Ares Capital during the second quarter worth $747,000. Foresight Capital Management Advisors Inc. lifted its holdings in Ares Capital by 17.2% during 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 purchasing an additional 50,624 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Ares Capital by 132.4% during the second quarter. Concurrent Investment Advisors LLC now owns 155,429 shares of the investment management company’s stock valued at $2,880,000 after purchasing an additional 88,558 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Ares Capital by 9.5% in the second quarter. HighTower Advisors LLC now owns 3,870,130 shares of the investment management company’s stock valued at $71,714,000 after purchasing an additional 335,197 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Ares Capital by 53.5% in the first quarter. Bank of New York Mellon Corp now owns 240,483 shares of the investment management company’s stock valued at $4,333,000 after purchasing an additional 83,841 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ARCC shares. Citigroup restated a “market outperform” rating on shares of Ares Capital in a research report on Wednesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. Wall Street Zen cut Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. UBS Group upgraded Ares Capital from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, October 29th. Finally, Truist Financial reduced their target price on Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.39.

Ares Capital Trading Up 0.1%

Shares of ARCC stock opened at $19.46 on Thursday. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $21.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $19.12 and its two-hundred day moving average is $18.98. The firm has a market capitalization of $14.05 billion, a P/E ratio of 15.95 and a beta of 0.60.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, October 27th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $763.00 million for the quarter, compared to analysts’ expectations of $776.34 million. Ares Capital had a return on equity of 9.72% and a net margin of 28.34%. Ares Capital’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. Research analysts expect that Ares Capital Corporation will post 1.88 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.9%. Ares Capital’s payout ratio is presently 157.38%.

Ares Capital Company Profile

Ares Capital Corporation is a business development company that provides financing to U.S. middle-market companies, including businesses backed by private equity firms. It is externally managed by Ares Capital Management, an affiliate of Ares Management Corporation. The company invests primarily in debt, including first-lien and second-lien loans and subordinated debt, and may also make equity investments. Its financing supports a range of business needs, such as acquisitions, growth, and refinancing.