Left Brain Wealth Management LLC Sells 73,750 Shares of Ares Capital Corporation $ARCC

Left Brain Wealth Management LLC lowered its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 88.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,795 shares of the investment management company’s stock after selling 73,750 shares during the quarter. Left Brain Wealth Management LLC’s holdings in Ares Capital were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ARCC. Fourth Dimension Wealth LLC purchased a new position in Ares Capital in the 2nd quarter worth about $29,000. Elequin Capital LP purchased a new stake in shares of Ares Capital during the 1st quarter valued at about $30,000. CNB Bank bought a new stake in shares of Ares Capital in the second quarter worth approximately $36,000. Harbor Asset Planning Inc. bought a new stake in shares of Ares Capital in the second quarter worth approximately $38,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Ares Capital during the second quarter valued at approximately $40,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARCC. Royal Bank Of Canada dropped their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Capital One Financial set a $22.50 price target on Ares Capital in a research note on Friday, October 10th. Wells Fargo & Company reduced their price objective on Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. UBS Group lowered their target price on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Stock Performance

Shares of ARCC opened at $19.84 on Friday. The business has a 50-day simple moving average of $20.19 and a two-hundred day simple moving average of $21.50. The company has a quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 9.92 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. On average, analysts expect that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.7%. Ares Capital’s payout ratio is 96.00%.

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.