Columbus Macro LLC Acquires 49,758 Shares of Ares Capital Corporation $ARCC

Columbus Macro LLC increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 554,804 shares of the investment management company’s stock after buying an additional 49,758 shares during the period. Ares Capital accounts for 1.2% of Columbus Macro LLC’s investment portfolio, making the stock its 18th biggest position. Columbus Macro LLC’s holdings in Ares Capital were worth $11,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARCC. City Holding Co. boosted its holdings in shares of Ares Capital by 444.4% in the third quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock worth $25,000 after acquiring an additional 1,000 shares during the period. SWAN Capital LLC bought a new position in Ares Capital in the 3rd quarter worth about $27,000. NBT Bank N A NY purchased a new position in Ares Capital during the 3rd quarter valued at about $31,000. Quarry LP purchased a new position in Ares Capital during the 3rd quarter valued at about $33,000. Finally, WFA of San Diego LLC bought a new stake in shares of Ares Capital during the second quarter valued at about $36,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARCC. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. UBS Group lowered their target price on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Capital in a report on Monday, December 29th. Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Ares Capital in a research report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.38.

Insider Buying and Selling at Ares Capital

In other news, CFO Scott C. Lem purchased 5,186 shares of the company’s stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $19.29 per share, with a total value of $100,037.94. Following the completion of the purchase, the chief financial officer directly owned 39,463 shares in the company, valued at approximately $761,241.27. This trade represents a 15.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Kort Schnabel purchased 12,500 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $19.13 per share, with a total value of $239,125.00. Following the purchase, the chief executive officer owned 40,500 shares of the company’s stock, valued at approximately $774,765. The trade was a 44.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.49% of the stock is currently owned by insiders.

Ares Capital Price Performance

ARCC stock opened at $17.45 on Monday. The company’s 50 day moving average is $19.17 and its 200 day moving average is $19.95. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 9.38 and a beta of 0.59. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $23.42.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Ares Capital had a net margin of 42.56% and a return on equity of 9.89%. The business had revenue of $793.00 million during the quarter, compared to analyst estimates of $795.20 million. During the same period in the previous year, the business posted $0.55 earnings per share. Ares Capital’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict 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, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, March 13th. Ares Capital’s payout ratio is currently 103.23%.

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.