Nan Fung Trinity HK Ltd. Purchases 204,300 Shares of Ares Capital Corporation $ARCC

Nan Fung Trinity HK Ltd. raised its position in Ares Capital Corporation (NASDAQ:ARCC) by 31.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 852,100 shares of the investment management company’s stock after acquiring an additional 204,300 shares during the period. Ares Capital makes up approximately 2.2% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 17th biggest holding. Nan Fung Trinity HK Ltd. owned 0.12% of Ares Capital worth $18,712,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Ares Capital by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 159,766 shares of the investment management company’s stock valued at $3,540,000 after buying an additional 20,552 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Ares Capital by 10.5% during the first quarter. Sigma Planning Corp now owns 163,519 shares of the investment management company’s stock valued at $3,624,000 after acquiring an additional 15,528 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Ares Capital by 26.4% in the 1st quarter. Apollon Wealth Management LLC now owns 229,630 shares of the investment management company’s stock valued at $5,089,000 after purchasing an additional 47,999 shares during the last quarter. BluePointe Capital Management LLC boosted its stake in Ares Capital by 24.0% in the 1st quarter. BluePointe Capital Management LLC now owns 139,387 shares of the investment management company’s stock worth $3,089,000 after purchasing an additional 26,965 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in Ares Capital by 38.6% in the 1st quarter. Wealthfront Advisers LLC now owns 21,270 shares of the investment management company’s stock worth $471,000 after purchasing an additional 5,923 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael Kort Schnabel bought 13,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $20.39 per share, with a total value of $265,070.00. Following the completion of the purchase, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARCC shares. 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 report on Tuesday, October 14th. JPMorgan Chase & Co. lowered their price target 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. Wells Fargo & Company dropped their price target on Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Trading Up 0.1%

ARCC stock opened at $20.31 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 quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The firm has a market cap of $14.54 billion, a P/E ratio of 10.16 and a beta of 0.68. The company’s 50-day simple moving average is $20.59 and its 200-day simple moving average is $21.55.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates 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 return on equity of 10.08% and a net margin of 45.16%.Ares Capital’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. As a group, equities analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s payout ratio is presently 96.00%.

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.