Park Avenue Securities LLC Has $266,000 Holdings in Ares Capital Corporation (ARCC)
Park Avenue Securities LLC grew its stake in Ares Capital Corporation (NASDAQ:ARCC) by 36.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,236 shares of the investment management company’s stock after buying an additional 4,343 shares during the period. Park Avenue Securities LLC’s holdings in Ares Capital Corporation were worth $266,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC grew its stake in shares of Ares Capital Corporation by 8.9% during the 2nd quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after purchasing an additional 526 shares during the period. Hudock Capital Group LLC grew its stake in Ares Capital Corporation by 3.2% in the 2nd quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after acquiring an additional 200 shares during the last quarter. Ffcm LLC grew its stake in Ares Capital Corporation by 218.9% in the 2nd quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after acquiring an additional 4,695 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Ares Capital Corporation in the 3rd quarter valued at about $128,000. Finally, Grove Bank & Trust boosted its stake in shares of Ares Capital Corporation by 45.4% during the 2nd quarter. Grove Bank & Trust now owns 9,420 shares of the investment management company’s stock worth $154,000 after purchasing an additional 2,940 shares during the last quarter. Institutional investors and hedge funds own 43.90% of the company’s stock.
Shares of Ares Capital Corporation (ARCC) traded up $0.02 on Thursday, reaching $16.32. The company had a trading volume of 898,200 shares, compared to its average volume of 2,066,763. The stock has a market cap of $6,948.68, a PE ratio of 11.32, a P/E/G ratio of 3.94 and a beta of 0.63. Ares Capital Corporation has a 1 year low of $15.48 and a 1 year 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 Corporation (NASDAQ:ARCC) last announced its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital Corporation had a return on equity of 8.60% and a net margin of 45.78%. During the same quarter in the previous year, the business posted $0.43 EPS. equities analysts anticipate that Ares Capital Corporation 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. Investors of record on Friday, December 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.31%. Ares Capital Corporation’s payout ratio is 119.69%.
In related news, Director Michael J. Arougheti bought 8,365 shares of Ares Capital Corporation stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average cost of $15.85 per share, for a total transaction of $132,585.25. Following the acquisition, the director now owns 937,054 shares in the company, valued at $14,852,305.90. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders purchased 8,965 shares of company stock valued at $142,323. 0.45% of the stock is currently owned by company insiders.
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Several brokerages have recently weighed in on ARCC. National Securities reiterated a “buy” rating and set a $19.00 price objective on shares of Ares Capital Corporation in a report on Monday, August 7th. Zacks Investment Research lowered shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Citigroup Inc. began coverage on shares of Ares Capital Corporation in a report on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 price target on the stock. TheStreet upgraded shares of Ares Capital Corporation from a “c+” rating to a “b” rating in a report on Monday, August 7th. Finally, CIBC assumed coverage on shares of Ares Capital Corporation in a research note on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Ares Capital Corporation currently has a consensus rating of “Buy” and a consensus price target of $18.06.
Ares Capital Corporation 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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