TFG Advisers LLC Acquires 2,507 Shares of Ares Capital Corporation $ARCC

TFG Advisers LLC increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 4.1% in the 2nd quarter, Holdings Channel reports. The fund owned 64,370 shares of the investment management company’s stock after buying an additional 2,507 shares during the quarter. TFG Advisers LLC’s holdings in Ares Capital were worth $1,414,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Elequin Capital LP bought a new position in shares of Ares Capital during the first quarter valued at $30,000. Continuum Advisory LLC increased its position in shares of Ares Capital by 320.7% during the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after acquiring an additional 1,241 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in Ares Capital in the 2nd quarter worth approximately $40,000. Investment Management Corp VA ADV raised its holdings in Ares Capital by 193.9% in the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after acquiring an additional 1,206 shares during the last quarter. Finally, PSI Advisors LLC boosted its stake in Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 1,150 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the topic of several recent analyst reports. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. UBS Group increased their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Citigroup restated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Wells Fargo & Company lifted their target price on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and upped their price target for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Trading Down 1.4%

Shares of NASDAQ ARCC opened at $20.13 on Thursday. The stock has a market capitalization of $14.20 billion, a P/E ratio of 9.82 and a beta of 0.68. The business has a fifty day moving average price of $22.03 and a 200 day moving average price of $21.73. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14.

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

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.5%. Ares Capital’s dividend payout ratio is currently 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.