Rollins Financial Advisors LLC Acquires 12,838 Shares of Ares Capital Corporation $ARCC

Rollins Financial Advisors LLC grew its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 10.2% in the first quarter, HoldingsChannel.com reports. The fund owned 138,139 shares of the investment management company’s stock after purchasing an additional 12,838 shares during the period. Rollins Financial Advisors LLC’s holdings in Ares Capital were worth $3,061,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Elequin Capital LP bought a new stake in shares of Ares Capital during the 1st quarter valued at about $30,000. Continuum Advisory LLC boosted its position in shares of Ares Capital by 320.7% during the 1st 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 during the last quarter. Investment Management Corp VA ADV boosted its position in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 1,206 shares during the last quarter. PSI Advisors LLC boosted its position in shares of 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 acquiring an additional 1,150 shares during the last quarter. Finally, Archer Investment Corp boosted its position in shares of Ares Capital by 281.3% during the 1st quarter. Archer Investment Corp now owns 2,440 shares of the investment management company’s stock valued at $54,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $22.35 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day simple moving average is $22.55 and its two-hundred day simple moving average is $21.89. The stock has a market capitalization of $15.77 billion, a P/E ratio of 10.90 and a beta of 0.70. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to analysts’ expectations of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same period last year, the firm earned $0.61 earnings per share. Analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Monday, September 15th. Ares Capital’s payout ratio is 93.66%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Citigroup restated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. UBS Group boosted their target price on Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.86.

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.