Foresight Capital Management Advisors Inc. Has $6.41 Million Holdings in Ares Capital Corporation $ARCC

Foresight Capital Management Advisors Inc. raised its stake in Ares Capital Corporation (NASDAQ:ARCC) by 17.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 345,778 shares of the investment management company’s stock after buying an additional 50,624 shares during the period. Ares Capital makes up 3.1% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 5th biggest position. Foresight Capital Management Advisors Inc.’s holdings in Ares Capital were worth $6,407,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Palladiem LLC bought a new position in shares of Ares Capital in the 4th quarter valued at $26,000. SWAN Capital LLC bought a new stake in Ares Capital during the 3rd quarter worth $27,000. Sankala Group LLC bought a new stake in Ares Capital during the 4th quarter worth $28,000. Core Wealth Advisors LLC acquired a new position in Ares Capital in the 4th quarter worth about $33,000. Finally, Quarry LP bought a new position in Ares Capital in the third quarter valued at about $33,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

ARCC stock opened at $20.01 on Friday. The firm has a market cap of $14.37 billion, a PE ratio of 14.82 and a beta of 0.56. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average price of $18.75 and a 200-day moving average price of $18.86. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $22.76.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The company had revenue of $768.00 million for the quarter, compared to the consensus estimate of $770.19 million. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, equities research analysts expect that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Ares Capital’s dividend payout ratio is 142.22%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ARCC shares. Royal Bank Of Canada lowered their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Finally, Oppenheimer cut their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.40.

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.