Ares Capital Corporation (NASDAQ:ARCC) Shares Sold by one8zero8 LLC

one8zero8 LLC decreased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,971 shares of the investment management company’s stock after selling 3,093 shares during the quarter. Ares Capital accounts for about 2.0% of one8zero8 LLC’s holdings, making the stock its 10th biggest position. one8zero8 LLC owned about 0.06% of Ares Capital worth $8,464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. World Investment Advisors raised its position in Ares Capital by 4.1% during the fourth quarter. World Investment Advisors now owns 12,521 shares of the investment management company’s stock worth $274,000 after acquiring an additional 488 shares during the last quarter. BankPlus Wealth Management LLC increased its stake in shares of Ares Capital by 2.5% during the 1st quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company’s stock worth $439,000 after purchasing an additional 492 shares in the last quarter. Western Financial Corp CA raised its position in shares of Ares Capital by 2.2% during the 1st quarter. Western Financial Corp CA now owns 26,961 shares of the investment management company’s stock worth $597,000 after purchasing an additional 574 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its stake in Ares Capital by 0.6% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company’s stock valued at $2,316,000 after buying an additional 582 shares in the last quarter. Finally, Magnus Financial Group LLC grew its holdings in Ares Capital by 2.2% during the 1st quarter. Magnus Financial Group LLC now owns 31,319 shares of the investment management company’s stock valued at $694,000 after buying an additional 664 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ARCC shares. Keefe, Bruyette & Woods cut their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, June 27th. UBS Group raised their price target on shares of Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada cut their price objective on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Finally, B. Riley raised shares of Ares Capital to a “hold” rating in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.21.

Ares Capital Trading Up 0.3%

NASDAQ ARCC opened at $23.11 on Friday. The company has a market cap of $16.04 billion, a P/E ratio of 11.27 and a beta of 0.67. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. The company has a 50-day moving average of $22.17 and a 200-day moving average of $22.04.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $599.00 million during the quarter, compared to analysts’ expectations of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. Ares Capital’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.31%. The ex-dividend date was Friday, June 13th. Ares Capital’s dividend payout ratio (DPR) is currently 93.66%.

Ares Capital 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.