Beacon Capital Management LLC Sells 1,264 Shares of Ares Capital Corporation $ARCC

Beacon Capital Management LLC lowered its position in Ares Capital Corporation (NASDAQ:ARCC) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,270 shares of the investment management company’s stock after selling 1,264 shares during the period. Beacon Capital Management LLC’s holdings in Ares Capital were worth $182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elequin Capital LP purchased a new position in Ares Capital during the 1st quarter valued at $30,000. Continuum Advisory LLC boosted its holdings in shares of Ares Capital by 320.7% in the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. Investment Management Corp VA ADV grew its stake in Ares Capital by 193.9% in the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,206 shares in the last quarter. PSI Advisors LLC increased its holdings 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 worth $47,000 after purchasing an additional 1,150 shares during the period. Finally, Archer Investment Corp raised its position in 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 purchasing an additional 1,800 shares in the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARCC shares. 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. Citigroup reissued an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating 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 presently has a consensus rating of “Moderate Buy” and an average price target of $22.86.

Ares Capital Trading Down 0.5%

Ares Capital stock opened at $20.46 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $14.43 billion, a PE ratio of 9.98 and a beta of 0.70. The stock has a 50-day moving average of $22.18 and a two-hundred day moving average of $21.75. 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 data on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate 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 net margin of 44.94% and a return on equity of 10.48%. During the same period in the previous year, the business earned $0.61 earnings per share. On average, research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.4%. Ares Capital’s payout ratio is currently 93.66%.

About Ares Capital

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.