MBL Wealth LLC Sells 5,000 Shares of Ares Capital Corporation $ARCC

MBL Wealth LLC reduced its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,316 shares of the investment management company’s stock after selling 5,000 shares during the period. MBL Wealth LLC’s holdings in Ares Capital were worth $402,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in Ares Capital in the 1st quarter worth approximately $30,000. Continuum Advisory LLC increased its position in shares of Ares Capital by 320.7% during 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. Wolff Wiese Magana LLC bought a new stake in shares of Ares Capital during the second quarter valued at approximately $40,000. Investment Management Corp VA ADV increased its position in shares of Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,206 shares during the period. Finally, PSI Advisors LLC increased its position in shares of Ares Capital by 121.1% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 1,150 shares during the period. 27.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARCC. UBS Group boosted their price objective on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. JMP Securities set a $23.00 price objective on Ares Capital and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup restated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Trading Down 1.2%

ARCC stock opened at $20.15 on Friday. The company has a market cap of $14.21 billion, a P/E ratio of 9.83 and a beta of 0.68. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average of $21.91 and a 200-day moving average of $21.71.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend 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.