Foresight Capital Management Advisors Inc. Raises Stake in Ares Capital Corporation $ARCC

Foresight Capital Management Advisors Inc. increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 311,498 shares of the investment management company’s stock after acquiring an additional 11,596 shares during the period. Ares Capital makes up about 4.0% of Foresight Capital Management Advisors Inc.’s holdings, making the stock its 4th biggest position. Foresight Capital Management Advisors Inc.’s holdings in Ares Capital were worth $6,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Ares Capital in the 2nd quarter worth approximately $877,203,000. Confluence Investment Management LLC grew its holdings in Ares Capital by 0.6% in the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock worth $83,378,000 after purchasing an additional 21,344 shares during the period. Advisors Capital Management LLC increased its holdings in shares of Ares Capital by 3.0% during the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock valued at $80,396,000 after acquiring an additional 104,339 shares in the last quarter. LPL Financial LLC raised its holdings in Ares Capital by 9.0% in the 1st quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after acquiring an additional 293,442 shares during the last quarter. Finally, Allen Investment Management LLC raised its position in Ares Capital by 8.4% in the 1st quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock worth $65,930,000 after buying an additional 230,924 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ARCC shares. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Wells Fargo & Company increased their price target on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. UBS Group boosted their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Citigroup restated an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a report on Saturday, September 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Trading Down 0.1%

NASDAQ ARCC opened at $20.12 on Tuesday. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month 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 firm’s 50-day moving average is $21.86 and its two-hundred day moving average is $21.70. The stock has a market capitalization of $14.19 billion, a P/E ratio of 9.81 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) 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 last year, the company earned $0.61 earnings per share. On average, sell-side analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.5%. Ares Capital’s payout ratio is currently 93.66%.

About Ares Capital

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.