Fernwood Investment Management LLC raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 89,896 shares of the investment management company’s stock after buying an additional 500 shares during the period. Ares Capital Corporation accounts for 1.1% of Fernwood Investment Management LLC’s portfolio, making the stock its 25th largest position. Fernwood Investment Management LLC’s holdings in Ares Capital Corporation were worth $1,473,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCC. Penserra Capital Management LLC boosted its position in shares of Ares Capital Corporation by 16.2% in the first quarter. Penserra Capital Management LLC now owns 5,913 shares of the investment management company’s stock worth $102,000 after buying an additional 825 shares during the last quarter. Coconut Grove Bank boosted its position in shares of Ares Capital Corporation by 366.2% in the first quarter. Coconut Grove Bank now owns 6,480 shares of the investment management company’s stock worth $113,000 after buying an additional 5,090 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Ares Capital Corporation during the fourth quarter worth approximately $130,000. Global X Management Co. LLC boosted its position in shares of Ares Capital Corporation by 49.4% in the first quarter. Global X Management Co. LLC now owns 8,055 shares of the investment management company’s stock worth $140,000 after buying an additional 2,664 shares during the last quarter. Finally, Glassman Wealth Services acquired a new position in shares of Ares Capital Corporation during the first quarter worth approximately $152,000. Institutional investors and hedge funds own 49.53% of the company’s stock.

Ares Capital Corporation (NASDAQ:ARCC) opened at 16.26 on Wednesday. The stock has a 50 day moving average of $16.38 and a 200 day moving average of $16.94. Ares Capital Corporation has a one year low of $15.01 and a one year high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last released its earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $284 million for the quarter, compared to the consensus estimate of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same period in the prior year, the firm posted $0.50 EPS. Analysts forecast that Ares Capital Corporation will post $1.40 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.35%. The ex-dividend date of this dividend is Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio is currently 117.83%.

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ARCC has been the topic of a number of recent research reports. TheStreet upgraded shares of Ares Capital Corporation from a “c+” rating to a “b” rating in a research report on Monday, August 7th. National Securities reiterated a “buy” rating and set a $19.00 price target on shares of Ares Capital Corporation in a research report on Monday, August 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.50 price target on shares of Ares Capital Corporation in a research report on Friday, June 16th. Jefferies Group LLC reiterated a “buy” rating and set a $19.50 price target on shares of Ares Capital Corporation in a research report on Friday, July 14th. Finally, BidaskClub upgraded shares of Ares Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Ares Capital Corporation currently has a consensus rating of “Buy” and a consensus price target of $18.00.

Ares Capital Corporation Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

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Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

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