LSV Asset Management Has $26.21 Million Stake in Ares Capital Corporation $ARCC

LSV Asset Management lowered its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,193,490 shares of the investment management company’s stock after selling 65,700 shares during the period. LSV Asset Management owned approximately 0.17% of Ares Capital worth $26,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ARCC. Kingstone Capital Partners Texas LLC bought a new position in Ares Capital during the 2nd quarter worth approximately $877,203,000. Confluence Investment Management LLC raised 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 boosted its position 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 worth $80,396,000 after purchasing an additional 104,339 shares in the last quarter. LPL Financial LLC grew its holdings in shares of 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 valued at $79,063,000 after buying an additional 293,442 shares during the period. Finally, Allen Investment Management LLC increased its position in shares of 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 valued at $65,930,000 after buying an additional 230,924 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Down 0.8%

NASDAQ ARCC opened at $19.52 on Wednesday. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20. The stock’s 50 day moving average price is $20.36 and its two-hundred day moving average price is $21.52. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 9.76 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. As a group, analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.8%. The ex-dividend date is Monday, December 15th. Ares Capital’s payout ratio is presently 96.00%.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several recent analyst reports. UBS Group reduced their target price on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Wells Fargo & Company cut their price objective on Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. decreased their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Capital One Financial set a $22.50 target price on shares of Ares Capital in a report on Friday, October 10th. Finally, JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

Insider Buying and Selling

In other Ares Capital news, CEO Michael Kort Schnabel purchased 13,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $20.39 per share, with a total value of $265,070.00. Following the transaction, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at $570,920. This represents a 86.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

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.