Access Investment Management LLC Invests $1.27 Million in Ares Capital Corporation $ARCC

Access Investment Management LLC acquired a new position in Ares Capital Corporation (NASDAQ:ARCC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 57,675 shares of the investment management company’s stock, valued at approximately $1,267,000.

A number of other hedge funds have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC bought a new stake in Ares Capital during the second quarter worth about $877,203,000. Confluence Investment Management LLC increased its stake in shares of Ares Capital by 0.6% during the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after purchasing an additional 21,344 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Ares Capital by 3.0% during the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock valued at $80,396,000 after purchasing an additional 104,339 shares during the last quarter. LPL Financial LLC boosted its position in shares of Ares Capital by 9.0% in the 1st quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after purchasing an additional 293,442 shares in the last quarter. Finally, Allen Investment Management LLC grew its stake in shares of Ares Capital by 8.4% in the 1st quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock worth $65,930,000 after buying an additional 230,924 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $20.35 on Monday. The stock has a 50-day simple moving average of $20.88 and a two-hundred day simple moving average of $21.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The firm has a market capitalization of $14.57 billion, a PE ratio of 10.18 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $766.48 million. During the same period in the previous year, the company posted $0.58 EPS. The firm’s revenue was up .9% on a year-over-year basis. Analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Monday, December 15th. Ares Capital’s dividend payout ratio is presently 96.00%.

Analyst Ratings Changes

Several brokerages recently commented on ARCC. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Wells Fargo & Company decreased their price objective on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank Of Canada dropped their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research note on Thursday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ares Capital in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.