Linden Thomas Advisory Services LLC Grows Position in Ares Capital Corporation $ARCC

Linden Thomas Advisory Services LLC increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,023 shares of the investment management company’s stock after acquiring an additional 7,434 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Ares Capital were worth $1,340,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ARCC. Kingstone Capital Partners Texas LLC purchased a new stake in Ares Capital in the second quarter worth about $877,203,000. HighTower Advisors LLC lifted its stake in Ares Capital by 87.2% in the first quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock worth $58,084,000 after acquiring an additional 1,220,570 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Ares Capital in the first quarter worth about $14,766,000. CCLA Investment Management lifted its stake in Ares Capital by 26.5% in the first quarter. CCLA Investment Management now owns 2,799,023 shares of the investment management company’s stock worth $62,026,000 after acquiring an additional 587,068 shares during the period. Finally, SCS Capital Management LLC purchased a new stake in Ares Capital in the first quarter worth about $11,778,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

ARCC opened at $20.08 on Friday. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The company has a market cap of $14.16 billion, a P/E ratio of 9.80 and a beta of 0.68. The firm’s 50-day moving average price is $21.07 and its 200-day moving average price is $21.54.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The company had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. During the same quarter last year, the company earned $0.61 EPS. As a group, equities analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.6%. Ares Capital’s dividend payout ratio is 93.66%.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Capital One Financial set a $22.50 price target on shares of Ares Capital in a research report on Friday, October 10th. Citigroup reissued an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. UBS Group decreased their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company increased their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.63.

Ares Capital Company 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.