Calton & Associates Inc. Buys New Shares in Ares Capital Corporation $ARCC

Calton & Associates Inc. bought a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the 1st quarter, HoldingsChannel.com reports. The fund bought 13,554 shares of the investment management company’s stock, valued at approximately $300,000.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Ares Capital by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock valued at $5,343,000 after acquiring an additional 1,776 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ares Capital by 18.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,840 shares of the investment management company’s stock valued at $1,058,000 after acquiring an additional 7,381 shares during the period. Bessemer Group Inc. increased its position in shares of Ares Capital by 23,571.4% in the 1st quarter. Bessemer Group Inc. now owns 3,314 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 3,300 shares during the period. GAMMA Investing LLC increased its position in shares of Ares Capital by 2,116.0% in the 1st quarter. GAMMA Investing LLC now owns 13,274 shares of the investment management company’s stock valued at $2,940,000 after acquiring an additional 12,675 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Ares Capital by 2.8% in the 1st quarter. SG Americas Securities LLC now owns 24,361 shares of the investment management company’s stock valued at $540,000 after acquiring an additional 666 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the topic of several analyst reports. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Royal Bank Of Canada cut their price target on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, UBS Group increased their price target on Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and a consensus price target of $22.86.

Ares Capital Trading Up 0.7%

ARCC stock opened at $22.40 on Monday. The company’s 50-day simple moving average is $22.46 and its 200-day simple moving average is $21.93. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The firm has a market cap of $15.80 billion, a P/E ratio of 10.93 and a beta of 0.70.

Ares Capital (NASDAQ:ARCC) last posted its earnings results 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 return on equity of 10.48% and a net margin of 44.94%.The firm had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, equities analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Monday, September 15th. Ares Capital’s dividend payout ratio is presently 93.66%.

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.