Ares Capital Corporation $ARCC Shares Acquired by Intellectus Partners LLC

Intellectus Partners LLC boosted its position in Ares Capital Corporation (NASDAQ:ARCC) by 22.1% in the 4th quarter, HoldingsChannel reports. The firm owned 150,388 shares of the investment management company’s stock after purchasing an additional 27,230 shares during the period. Intellectus Partners LLC’s holdings in Ares Capital were worth $3,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canal Capital Management LLC grew its holdings in shares of Ares Capital by 1.6% during the fourth quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock worth $667,000 after buying an additional 520 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Ares Capital by 1.6% in the fourth quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock valued at $702,000 after buying an additional 547 shares during the last quarter. Balboa Wealth Partners lifted its stake in shares of Ares Capital by 1.3% during the third quarter. Balboa Wealth Partners now owns 44,755 shares of the investment management company’s stock valued at $913,000 after buying an additional 559 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of Ares Capital by 2.0% during the fourth quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock valued at $589,000 after buying an additional 563 shares during the period. Finally, Parallel Advisors LLC boosted its position in Ares Capital by 1.0% during the third quarter. Parallel Advisors LLC now owns 57,092 shares of the investment management company’s stock worth $1,165,000 after acquiring an additional 567 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of ARCC stock opened at $18.68 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of 11.46 and a beta of 0.56. Ares Capital Corporation has a one year low of $17.40 and a one year high of $23.42. The company has a 50 day moving average price of $18.60 and a 200 day moving average price of $19.40.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. Sell-side analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, June 15th. This represents a $1.92 annualized dividend and a yield of 10.3%. Ares Capital’s dividend payout ratio is currently 117.79%.

Analysts Set New Price Targets

Several brokerages have weighed in on ARCC. UBS Group cut their price target on Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Citizens Jmp decreased their price objective on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. B. Riley Financial lowered their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Truist Financial dropped their target price on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Oppenheimer decreased their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

About Ares Capital

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.