QRG Capital Management Inc. Has $203,000 Stock Position in Ares Capital Corporation $ARCC

QRG Capital Management Inc. trimmed its position in Ares Capital Corporation (NASDAQ:ARCC) by 18.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,246 shares of the investment management company’s stock after selling 2,082 shares during the period. QRG Capital Management Inc.’s holdings in Ares Capital were worth $203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elequin Capital LP acquired a new position in shares of Ares Capital in the first quarter worth about $30,000. Continuum Advisory LLC boosted its holdings in shares of Ares Capital by 320.7% in the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after buying an additional 1,241 shares during the period. Wolff Wiese Magana LLC acquired a new position in shares of Ares Capital in the second quarter worth about $40,000. Investment Management Corp VA ADV boosted its holdings in shares of Ares Capital by 193.9% in the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after buying an additional 1,206 shares during the period. Finally, PSI Advisors LLC boosted its holdings in shares of Ares Capital by 121.1% in the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after buying an additional 1,150 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ARCC. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday. B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. Finally, Capital One Financial set a $22.50 price objective on shares of Ares Capital in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Ares Capital has an average rating of “Moderate Buy” and an average price target of $22.81.

Ares Capital Stock Performance

Shares of ARCC opened at $18.90 on Monday. The company’s 50 day moving average price is $21.61 and its 200 day moving average price is $21.62. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The company has a market capitalization of $13.33 billion, a PE ratio of 9.22 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14.

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

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

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.