Cane Capital Partners LLC Sells 37,700 Shares of Ares Capital Corporation $ARCC

Cane Capital Partners LLC lowered its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 77.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,220 shares of the investment management company’s stock after selling 37,700 shares during the period. Cane Capital Partners LLC’s holdings in Ares Capital were worth $202,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG increased its position in Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after purchasing an additional 3,301,890 shares in the last quarter. Marshall Wace LLP acquired a new stake in Ares Capital in the third quarter valued at approximately $36,943,000. Altshuler Shaham Ltd bought a new stake in shares of Ares Capital during the fourth quarter worth $33,380,000. Michael & Susan Dell Foundation bought a new stake in shares of Ares Capital during the fourth quarter worth $26,089,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Ares Capital during the fourth quarter worth $20,399,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Up 0.7%

Shares of ARCC stock opened at $18.66 on Thursday. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 11.45 and a beta of 0.56. The stock has a 50-day moving average of $18.70 and a 200-day moving average of $19.13. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $23.42.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The company had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same period in the prior year, the firm earned $0.50 earnings per share. Ares Capital’s 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.48 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.92 annualized dividend and a yield of 10.3%. Ares Capital’s payout ratio is presently 117.79%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ARCC. B. Riley Financial dropped their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. UBS Group lowered their target price on Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Oppenheimer cut their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. reduced their price target on Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.65.

Ares Capital 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.