Elemental Capital Partners LLC Takes Position in Ares Capital Corporation $ARCC

Elemental Capital Partners LLC bought a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 53,643 shares of the investment management company’s stock, valued at approximately $967,000. Ares Capital accounts for 0.4% of Elemental Capital Partners LLC’s holdings, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Palladiem LLC purchased a new position in Ares Capital in the 4th quarter worth approximately $26,000. SWAN Capital LLC purchased a new stake in shares of Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC acquired a new position in shares of Ares Capital during the fourth quarter worth $28,000. Core Wealth Advisors LLC acquired a new position in shares of Ares Capital during the fourth quarter worth $33,000. Finally, Quarry LP purchased a new position in shares of Ares Capital in the third quarter valued at $33,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

ARCC stock opened at $18.73 on Friday. The stock’s 50 day simple moving average is $18.70 and its 200 day simple moving average is $19.11. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $23.42. The firm has a market cap of $13.45 billion, a P/E ratio of 11.49 and a beta of 0.56. 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 (NASDAQ:ARCC) last released 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). The business had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. As a group, equities research analysts predict that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, June 15th. This represents a $1.92 annualized dividend and a yield of 10.3%. Ares Capital’s dividend payout ratio is 117.79%.

Analysts Set New Price Targets

ARCC has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Truist Financial dropped their price objective on Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Royal Bank Of Canada cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods dropped their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

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.