Ares Capital Corporation $ARCC Holdings Boosted by Rathbones Group PLC

Rathbones Group PLC raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 51.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,007 shares of the investment management company’s stock after purchasing an additional 116,715 shares during the quarter. Rathbones Group PLC’s holdings in Ares Capital were worth $7,576,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC purchased a new position in shares of Ares Capital during the second quarter valued at $877,203,000. HighTower Advisors LLC lifted its stake in Ares Capital by 87.2% in the 1st quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock worth $58,084,000 after acquiring an additional 1,220,570 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Ares Capital during the 1st quarter worth about $14,766,000. CCLA Investment Management grew its stake 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 acquiring an additional 587,068 shares in the last quarter. Finally, SCS Capital Management LLC purchased a new position in Ares Capital during the 1st quarter valued at about $11,778,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of ARCC opened at $20.20 on Monday. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 10.10 and a beta of 0.68. The company’s fifty day moving average is $20.68 and its 200-day moving average is $21.56. 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 12 month low of $18.26 and a 12 month high of $23.84.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.5%. Ares Capital’s dividend payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARCC. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. JMP Securities set a $23.00 price objective on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Royal Bank Of Canada cut their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. JPMorgan Chase & Co. decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ares Capital in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Insider Buying and Selling at Ares Capital

In other news, CEO Michael Kort Schnabel bought 13,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $20.39 per share, with a total value of $265,070.00. Following the completion of the transaction, the chief executive officer directly owned 28,000 shares in the company, valued at $570,920. This represents a 86.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

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.