NewSquare Capital LLC Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)

NewSquare Capital LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,228 shares of the investment management company’s stock, valued at approximately $40,000.

A number of other hedge funds have also bought and sold shares of ARCC. Great West Life Assurance Co. Can boosted its position in shares of Ares Capital by 36.7% during the first quarter. Great West Life Assurance Co. Can now owns 85,675 shares of the investment management company’s stock worth $1,464,000 after buying an additional 23,000 shares during the period. Synovus Financial Corp boosted its position in shares of Ares Capital by 16.4% during the first quarter. Synovus Financial Corp now owns 7,915 shares of the investment management company’s stock worth $136,000 after buying an additional 1,117 shares during the period. CIBC World Markets Inc. boosted its position in shares of Ares Capital by 3.0% during the first quarter. CIBC World Markets Inc. now owns 80,895 shares of the investment management company’s stock worth $1,387,000 after buying an additional 2,372 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Ares Capital by 103.2% during the first quarter. PNC Financial Services Group Inc. now owns 130,054 shares of the investment management company’s stock worth $2,229,000 after buying an additional 66,041 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Ares Capital by 1.6% during the first quarter. CIBC Private Wealth Group LLC now owns 178,538 shares of the investment management company’s stock worth $3,060,000 after buying an additional 2,799 shares during the period. 36.26% of the stock is owned by institutional investors.

Several research analysts have recently commented on ARCC shares. Raymond James raised their price target on Ares Capital from $19.00 to $19.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BidaskClub lowered Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Compass Point lowered Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, August 26th. Finally, BMO Capital Markets upgraded Ares Capital from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $20.00 in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.57.

NASDAQ:ARCC traded up $0.02 during midday trading on Tuesday, reaching $18.66. The company had a trading volume of 70,953 shares, compared to its average volume of 1,496,097. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 11.16 and a beta of 0.60. The stock’s fifty day simple moving average is $18.79 and its 200-day simple moving average is $18.02. Ares Capital Co. has a 12-month low of $14.50 and a 12-month high of $19.28. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.82.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The firm had revenue of $382.00 million during the quarter, compared to analyst estimates of $363.60 million. Ares Capital had a return on equity of 10.72% and a net margin of 53.81%. Ares Capital’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. As a group, sell-side analysts expect that Ares Capital Co. will post 1.86 EPS for the current year.

In other Ares Capital news, Director Steven B. Mckeever purchased 5,425 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $18.42 per share, with a total value of $99,928.50. Following the acquisition, the director now directly owns 24,795 shares of the company’s stock, valued at $456,723.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel G. Kelly, Jr. purchased 6,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $18.44 per share, with a total value of $110,640.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,425 shares of company stock valued at $247,289. 0.53% of the stock is currently owned by company insiders.

Ares Capital 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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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