Bayshore Capital Advisors LLC Acquires 246,000 Shares of Ares Capital Corporation $ARCC

Bayshore Capital Advisors LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 246,000 shares of the investment management company’s stock, valued at approximately $4,699,000. Ares Capital makes up about 2.4% of Bayshore Capital Advisors LLC’s holdings, making the stock its 10th biggest position.

Other large investors have also added to or reduced their stakes in the company. Roman Butler Fullerton & Co. increased its stake in Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after purchasing an additional 528 shares in the last quarter. Magnus Financial Group LLC grew its holdings in shares of Ares Capital by 2.5% in the third quarter. Magnus Financial Group LLC now owns 23,881 shares of the investment management company’s stock worth $456,000 after acquiring an additional 579 shares during the period. Intrua Financial LLC grew its position in shares of Ares Capital by 1.6% during the third quarter. Intrua Financial LLC now owns 37,539 shares of the investment management company’s stock valued at $717,000 after purchasing an additional 607 shares in the last quarter. VPR Management LLC boosted its stake in shares of Ares Capital by 1.0% during the second quarter. VPR Management LLC now owns 63,254 shares of the investment management company’s stock valued at $1,172,000 after purchasing an additional 636 shares during the period. Finally, Stableford Capital II LLC lifted its position in Ares Capital by 0.3% during the second quarter. Stableford Capital II LLC now owns 192,802 shares of the investment management company’s stock valued at $3,573,000 after acquiring an additional 638 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ARCC. Wall Street Zen cut Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research report on Wednesday, October 28th. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Truist Financial lowered their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, UBS Group upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.39.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $19.13 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.00 and a current ratio of 1.00. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $21.14. The stock has a market capitalization of $13.82 billion, a PE ratio of 15.68 and a beta of 0.60. The stock has a 50 day moving average price of $19.16 and a 200 day moving average price of $19.00.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, October 27th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Ares Capital had a return on equity of 9.72% and a net margin of 28.34%. The firm had revenue of $763.00 million during the quarter, compared to the consensus estimate of $776.34 million. During the same quarter last year, the company posted $0.50 EPS. Ares Capital’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that Ares Capital Corporation will post 1.88 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.0%. Ares Capital’s payout ratio is 157.38%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company primarily invests in first-lien senior secured loans, second-lien loans, subordinated debt, and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate activities.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management Corporation.