Condor Capital Management Has $4.95 Million Holdings in Ares Capital Corporation $ARCC

Condor Capital Management grew its position in Ares Capital Corporation (NASDAQ:ARCC) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,589 shares of the investment management company’s stock after purchasing an additional 4,257 shares during the period. Condor Capital Management’s holdings in Ares Capital were worth $4,954,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ARCC. Aurora Private Wealth Inc. lifted its stake in Ares Capital by 1.5% in the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock valued at $636,000 after acquiring an additional 436 shares in the last quarter. Community Trust & Investment Co. raised its holdings in shares of Ares Capital by 0.3% in the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock valued at $3,296,000 after purchasing an additional 454 shares during the last quarter. Prostatis Group LLC lifted its position in shares of Ares Capital by 2.1% in the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock worth $482,000 after purchasing an additional 457 shares in the last quarter. Fountainhead AM LLC boosted its holdings in Ares Capital by 5.5% during the second quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock worth $214,000 after purchasing an additional 511 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its position in Ares Capital by 3.1% in the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after purchasing an additional 516 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Down 0.4%

ARCC stock opened at $20.21 on Friday. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The business’s 50 day simple moving average is $20.47 and its 200 day simple moving average is $21.52. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $14.46 billion, a PE ratio of 10.11 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. Ares Capital’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 EPS. As a group, research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.5%. Ares Capital’s payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ARCC shares. Wells Fargo & Company cut their price target on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. JMP Securities set a $23.00 target price on Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Ares Capital in a research report on Thursday, October 30th. UBS Group lowered their price target on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada dropped their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.25.

Insider Activity

In other Ares Capital news, CEO Michael Kort Schnabel bought 13,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $20.39 per share, for a total transaction of $265,070.00. Following the transaction, the chief executive officer directly owned 28,000 shares in the company, valued at approximately $570,920. This trade represents a 86.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by insiders.

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.