Ares Capital Corporation $ARCC Shares Bought by BankPlus Trust Department

BankPlus Trust Department raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 8.2% during the second quarter, HoldingsChannel reports. The firm owned 94,470 shares of the investment management company’s stock after buying an additional 7,181 shares during the period. BankPlus Trust Department’s holdings in Ares Capital were worth $2,075,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Elequin Capital LP acquired a new position in Ares Capital in the first quarter valued at $30,000. Continuum Advisory LLC increased its stake in 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. Wolff Wiese Magana LLC purchased a new position in Ares Capital during the 2nd quarter worth $40,000. Investment Management Corp VA ADV raised its position in 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 worth $41,000 after buying an additional 1,206 shares during the last quarter. Finally, PSI Advisors LLC raised its position 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 buying an additional 1,150 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on ARCC shares. Wells Fargo & Company upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Ares Capital in a research report on Saturday, September 27th. JPMorgan Chase & Co. decreased their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group lifted their price target on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Eight 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Ares Capital Stock Performance

Shares of ARCC opened at $19.86 on Wednesday. The company has a 50-day simple moving average of $21.81 and a 200-day simple moving average of $21.69. 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 company has a market capitalization of $14.01 billion, a PE ratio of 9.69 and a beta of 0.68. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week 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 earnings per share (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 net margin of 44.94% and a return on equity of 10.48%. During the same quarter in the prior year, the business earned $0.61 EPS. Equities research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is presently 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.