PFG Advisors Purchases 2,527 Shares of Ares Capital Corporation $ARCC

PFG Advisors increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,422 shares of the investment management company’s stock after buying an additional 2,527 shares during the period. PFG Advisors’ holdings in Ares Capital were worth $1,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARCC. Midwest Trust Co acquired a new position in Ares Capital during the 2nd quarter worth $806,000. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Ares Capital by 8.2% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 48,387 shares of the investment management company’s stock worth $1,063,000 after purchasing an additional 3,670 shares during the period. Rathbones Group PLC lifted its position in shares of Ares Capital by 51.1% during the 2nd quarter. Rathbones Group PLC now owns 345,007 shares of the investment management company’s stock worth $7,576,000 after purchasing an additional 116,715 shares during the last quarter. Prospera Financial Services Inc boosted its stake in Ares Capital by 383.7% during the 2nd quarter. Prospera Financial Services Inc now owns 85,955 shares of the investment management company’s stock valued at $1,888,000 after purchasing an additional 68,184 shares during the period. Finally, Carnegie Lake Advisors LLC boosted its stake in Ares Capital by 0.8% during the 2nd quarter. Carnegie Lake Advisors LLC now owns 65,514 shares of the investment management company’s stock valued at $1,439,000 after purchasing an additional 517 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

ARCC opened at $20.29 on Tuesday. The stock’s 50 day simple moving average is $20.63 and its 200-day simple moving average is $21.55. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09. The stock has a market cap of $14.52 billion, a PE ratio of 10.15 and a beta of 0.68. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted 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 firm had revenue of $658.00 million for the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. Sell-side analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Capital One Financial set a $22.50 price target on Ares Capital in a research report on Friday, October 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Ares Capital in a research note on Thursday, October 30th. UBS Group dropped their target price on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Finally, B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their price target for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.25.

Insider Transactions at Ares Capital

In other Ares Capital news, CEO Michael Kort Schnabel purchased 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $20.39 per share, with a total value of $265,070.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.