Joel Isaacson & Co. LLC Buys 3,669 Shares of Ares Capital Corporation $ARCC

Joel Isaacson & Co. LLC increased its position in Ares Capital Corporation (NASDAQ:ARCC) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,640 shares of the investment management company’s stock after purchasing an additional 3,669 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Ares Capital were worth $3,835,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Taylor Frigon Capital Management LLC lifted its stake in Ares Capital by 20.9% in the second quarter. Taylor Frigon Capital Management LLC now owns 126,366 shares of the investment management company’s stock worth $2,775,000 after acquiring an additional 21,847 shares during the period. Confluence Investment Management LLC raised its holdings in shares of Ares Capital by 0.6% in the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after purchasing an additional 21,344 shares in the last quarter. Rollins Financial Advisors LLC lifted its position in shares of Ares Capital by 10.2% in the 1st quarter. Rollins Financial Advisors LLC now owns 138,139 shares of the investment management company’s stock worth $3,061,000 after purchasing an additional 12,838 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Ares Capital by 3.2% during the second quarter. Sound Income Strategies LLC now owns 2,453,944 shares of the investment management company’s stock valued at $53,889,000 after purchasing an additional 75,109 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Ares Capital by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock valued at $5,343,000 after buying an additional 1,776 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

ARCC opened at $20.12 on Tuesday. The company has a market cap of $14.19 billion, a P/E ratio of 9.81 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average price is $21.86 and its 200-day moving average price is $21.70. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The company had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. During the same quarter last year, the business earned $0.61 earnings per share. As a group, equities analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is presently 93.66%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ARCC shares. Wells Fargo & Company increased their target price on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. JMP Securities set a $23.00 price objective on Ares Capital and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a research note on Saturday, September 27th. B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.86.

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.