Lido Advisors LLC Grows Position in Ares Capital Corporation $ARCC

Lido Advisors LLC boosted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 62.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 588,315 shares of the investment management company’s stock after acquiring an additional 226,460 shares during the period. Lido Advisors LLC owned 0.08% of Ares Capital worth $12,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARCC. Mackenzie Financial Corp bought a new position in shares of Ares Capital during the 1st quarter valued at about $928,000. US Bancorp DE lifted its position in shares of Ares Capital by 4.2% in the first quarter. US Bancorp DE now owns 44,866 shares of the investment management company’s stock worth $994,000 after buying an additional 1,810 shares in the last quarter. TIAA Trust National Association boosted its stake in Ares Capital by 11.3% during the first quarter. TIAA Trust National Association now owns 12,691 shares of the investment management company’s stock valued at $281,000 after buying an additional 1,287 shares during the last quarter. CCLA Investment Management grew its holdings in Ares Capital by 26.5% during the 1st quarter. CCLA Investment Management now owns 2,799,023 shares of the investment management company’s stock valued at $62,026,000 after buying an additional 587,068 shares in the last quarter. Finally, Delta Financial Group Inc. grew its holdings in Ares Capital by 5.0% during the 1st quarter. Delta Financial Group Inc. now owns 32,662 shares of the investment management company’s stock valued at $720,000 after buying an additional 1,550 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

ARCC stock opened at $20.69 on Monday. The stock has a market cap of $14.80 billion, a PE ratio of 10.34 and a beta of 0.68. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The company has a 50-day moving average price of $20.11 and a 200 day moving average price of $21.47. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09.

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, hitting analysts’ consensus estimates of $0.50. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently declared 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio (DPR) is currently 96.00%.

Insider Transactions at Ares Capital

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARCC. Capital One Financial set a $22.50 price objective on Ares Capital in a report on Friday, October 10th. Keefe, Bruyette & Woods cut their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Royal Bank Of Canada decreased their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

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.