Nan Fung Trinity HK Ltd. Buys 344,700 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Nan Fung Trinity HK Ltd. boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 113.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 647,800 shares of the investment management company’s stock after buying an additional 344,700 shares during the period. Ares Capital makes up about 2.3% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 20th biggest position. Nan Fung Trinity HK Ltd. owned approximately 0.09% of Ares Capital worth $14,355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. World Investment Advisors raised its holdings in shares of Ares Capital by 4.1% in the 4th quarter. World Investment Advisors now owns 12,521 shares of the investment management company’s stock valued at $274,000 after purchasing an additional 488 shares during the period. BankPlus Wealth Management LLC raised its holdings in shares of Ares Capital by 2.5% in the 1st quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company’s stock valued at $439,000 after purchasing an additional 492 shares during the period. Western Financial Corp CA raised its holdings in shares of Ares Capital by 2.2% in the 1st quarter. Western Financial Corp CA now owns 26,961 shares of the investment management company’s stock valued at $597,000 after purchasing an additional 574 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of Ares Capital by 0.6% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company’s stock valued at $2,316,000 after purchasing an additional 582 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Ares Capital by 1.1% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 56,776 shares of the investment management company’s stock worth $1,258,000 after buying an additional 594 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. B. Riley raised shares of Ares Capital to a “hold” rating in a report on Monday, June 16th. Royal Bank Of Canada lowered their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, June 27th. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $24.50 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Ares Capital Stock Performance

NASDAQ ARCC opened at $22.70 on Tuesday. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $15.76 billion, a P/E ratio of 11.07 and a beta of 0.67. The company has a fifty day moving average of $22.18 and a 200-day moving average of $22.04.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results 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). Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. As a group, equities research analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

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.