Ares Capital Corporation $ARCC Position Increased by Riverbridge Partners LLC

Riverbridge Partners LLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 36.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 152,288 shares of the investment management company’s stock after buying an additional 40,999 shares during the quarter. Riverbridge Partners LLC’s holdings in Ares Capital were worth $2,909,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ARCC. Fortitude Family Office LLC lifted its position in shares of Ares Capital by 145.2% during the 3rd quarter. Fortitude Family Office LLC now owns 1,297 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 768 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Ares Capital during the 2nd quarter worth $25,000. Continuum Advisory LLC bought a new stake in shares of Ares Capital during the 2nd quarter worth $30,000. TOP Private Wealth LLC. acquired a new position in shares of Ares Capital in the 2nd quarter worth $31,000. Finally, Heritage Family Offices LLP acquired a new position in shares of Ares Capital in the 3rd quarter worth $32,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARCC. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research report on Wednesday, October 28th. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research note on Friday, September 4th. Truist Financial dropped their price target on Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Nine equities research 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, Ares Capital has an average rating of “Moderate Buy” and a consensus target price of $20.39.

Ares Capital Stock Up 0.5%

Shares of NASDAQ:ARCC opened at $19.44 on Wednesday. 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 company has a market cap of $14.04 billion, a PE ratio of 15.93 and a beta of 0.60. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $21.14. The firm has a 50 day simple moving average of $19.13 and a 200 day simple moving average of $18.98.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, October 27th. The investment management company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Ares Capital had a return on equity of 9.72% and a net margin of 28.34%. The firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $776.34 million. During the same period in the prior year, the business posted $0.50 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts expect that Ares Capital Corporation will post 1.88 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.9%. Ares Capital’s dividend 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.