HBK Sorce Advisory LLC Takes Position in Ares Capital Corporation $ARCC

HBK Sorce Advisory LLC bought a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 45,551 shares of the investment management company’s stock, valued at approximately $896,000.

Several other institutional investors have also bought and sold shares of the stock. Aurora Private Wealth Inc. lifted its stake in Ares Capital by 1.5% during the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock valued at $636,000 after acquiring an additional 436 shares in the last quarter. Community Trust & Investment Co. lifted its position in shares of Ares Capital by 0.3% during the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock valued at $3,296,000 after purchasing an additional 454 shares in the last quarter. Prostatis Group LLC boosted its holdings in Ares Capital by 2.1% during the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock worth $482,000 after purchasing an additional 457 shares during the last quarter. Fountainhead AM LLC grew its position in Ares Capital by 5.5% in the 2nd quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock worth $214,000 after purchasing an additional 511 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its stake in Ares Capital by 3.1% in the 2nd quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after buying an additional 516 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ARCC shares. JPMorgan Chase & Co. cut their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods dropped their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. UBS Group reduced their price objective on Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Insider Buying and Selling

In other Ares Capital news, CEO Michael Kort Schnabel acquired 13,000 shares of Ares Capital stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the purchase, the chief executive officer owned 28,000 shares of the company’s stock, valued at approximately $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 the SEC website. Company insiders own 0.48% of the company’s stock.

Ares Capital Stock Down 0.1%

ARCC stock opened at $20.17 on Tuesday. The stock has a fifty day moving average of $20.29 and a 200-day moving average of $21.25. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The company has a market capitalization of $14.44 billion, a price-to-earnings ratio of 10.09 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.20 and a current ratio of 2.20.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. As a group, equities research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

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 9.5%. The ex-dividend date is Monday, December 15th. Ares Capital’s dividend payout ratio is presently 96.00%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.