Green Square Capital LLC Increases Stake in Ares Capital Co. (ARCC)
Green Square Capital LLC lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381,953 shares of the investment management company’s stock after purchasing an additional 9,408 shares during the period. Green Square Capital LLC owned approximately 0.09% of Ares Capital worth $6,260,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in ARCC. Oppenheimer Asset Management Inc. lifted its holdings in Ares Capital by 70.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 21,746 shares of the investment management company’s stock valued at $356,000 after buying an additional 8,974 shares during the period. Alpha Windward LLC lifted its holdings in Ares Capital by 4,144.7% in the third quarter. Alpha Windward LLC now owns 29,925 shares of the investment management company’s stock valued at $490,000 after buying an additional 29,220 shares during the period. Summit X LLC increased its stake in Ares Capital by 61.8% in the third quarter. Summit X LLC now owns 19,270 shares of the investment management company’s stock valued at $315,000 after purchasing an additional 7,360 shares in the last quarter. Elliott Management Corp bought a new stake in Ares Capital in the second quarter valued at approximately $18,343,000. Finally, Intl Fcstone Inc. bought a new stake in Ares Capital in the second quarter valued at approximately $1,084,000. Institutional investors own 43.70% of the company’s stock.
Several brokerages have commented on ARCC. Compass Point began coverage on shares of Ares Capital in a research note on Wednesday, December 6th. They issued a “buy” rating and a $17.50 target price for the company. BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Wedbush started coverage on shares of Ares Capital in a research note on Monday, November 27th. They issued an “outperform” rating and a $18.00 target price for the company. TheStreet downgraded shares of Ares Capital from a “b” rating to a “c+” rating in a research report on Monday, November 13th. Finally, Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Ares Capital presently has a consensus rating of “Buy” and an average price target of $18.00.
Ares Capital Co. (NASDAQ ARCC) opened at $16.47 on Tuesday. The firm has a market cap of $6,999.83, a price-to-earnings ratio of 11.40, a P/E/G ratio of 3.97 and a beta of 0.63. Ares Capital Co. has a 12-month low of $15.48 and a 12-month high of $17.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29.
Ares Capital (NASDAQ:ARCC) last released its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $294.00 million during the quarter, compared to the consensus estimate of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same quarter last year, the firm earned $0.43 earnings per share. equities analysts forecast that Ares Capital Co. will post 1.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio is currently 119.69%.
In other news, Director Michael J. Arougheti purchased 8,365 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average price of $15.85 per share, for a total transaction of $132,585.25. Following the completion of the purchase, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 8,965 shares of company stock valued at $142,323. Corporate insiders own 0.45% of the company’s stock.
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Ares Capital 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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