Capital Management Associates Inc Sells 2,385 Shares of Ares Capital Corporation $ARCC

Capital Management Associates Inc decreased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 19.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,069 shares of the investment management company’s stock after selling 2,385 shares during the quarter. Capital Management Associates Inc’s holdings in Ares Capital were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Clear Creek Financial Management LLC raised its stake in Ares Capital by 3.5% in the second quarter. Clear Creek Financial Management LLC now owns 191,504 shares of the investment management company’s stock valued at $4,205,000 after buying an additional 6,489 shares during the period. WESPAC Advisors LLC increased its stake in shares of Ares Capital by 3.5% during the second quarter. WESPAC Advisors LLC now owns 36,955 shares of the investment management company’s stock worth $812,000 after purchasing an additional 1,238 shares during the period. Sax Wealth Advisors LLC increased its stake in shares of Ares Capital by 4.8% during the second quarter. Sax Wealth Advisors LLC now owns 23,311 shares of the investment management company’s stock worth $512,000 after purchasing an additional 1,076 shares during the period. BankPlus Trust Department increased its stake in shares of Ares Capital by 8.2% during the second quarter. BankPlus Trust Department now owns 94,470 shares of the investment management company’s stock worth $2,075,000 after purchasing an additional 7,181 shares during the period. Finally, Joel Isaacson & Co. LLC increased its stake in shares of Ares Capital by 2.1% during the second quarter. Joel Isaacson & Co. LLC now owns 174,640 shares of the investment management company’s stock worth $3,835,000 after purchasing an additional 3,669 shares during the period. Institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Finally, UBS Group increased their target price on Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Ares Capital Trading Down 1.0%

Shares of NASDAQ:ARCC opened at $19.67 on Thursday. The company has a market capitalization of $13.87 billion, a P/E ratio of 9.60 and a beta of 0.68. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day simple moving average is $21.75 and its 200 day simple moving average is $21.67.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same period in the prior year, the business posted $0.61 EPS. On average, research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is currently 93.66%.

Ares Capital 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.