Fieldview Capital Management LLC Makes New Investment in Ares Capital Corporation $ARCC

Fieldview Capital Management LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,289 shares of the investment management company’s stock, valued at approximately $856,000.

A number of other large investors also recently made changes to their positions in the business. Canal Capital Management LLC lifted its stake in shares of Ares Capital by 1.6% during the 4th quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock worth $667,000 after purchasing an additional 520 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Ares Capital by 1.6% during the 4th quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock worth $702,000 after purchasing an additional 547 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of Ares Capital by 2.0% during the 4th quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock worth $589,000 after purchasing an additional 563 shares during the period. Parallel Advisors LLC lifted its stake in shares of Ares Capital by 1.0% during the 3rd quarter. Parallel Advisors LLC now owns 57,092 shares of the investment management company’s stock worth $1,165,000 after purchasing an additional 567 shares during the period. Finally, Moody National Bank Trust Division lifted its stake in shares of Ares Capital by 3.9% during the 4th quarter. Moody National Bank Trust Division now owns 15,840 shares of the investment management company’s stock worth $320,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several research reports. Citizens Jmp cut their target price on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. JPMorgan Chase & Co. cut their target price on Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. UBS Group cut their target price on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a research report on Friday. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.65.

Ares Capital Stock Performance

Shares of ARCC opened at $19.26 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $13.83 billion, a P/E ratio of 11.82 and a beta of 0.56. The stock’s fifty day simple moving average is $18.76 and its 200 day simple moving average is $19.36. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm had revenue of $763.00 million during the quarter, compared to analysts’ expectations of $778.00 million. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.0%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio is currently 117.79%.

About Ares Capital

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.