Ares Capital Corporation $ARCC Shares Purchased by Financial Management Network Inc.

Financial Management Network Inc. boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 21.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,493 shares of the investment management company’s stock after buying an additional 37,647 shares during the quarter. Financial Management Network Inc.’s holdings in Ares Capital were worth $3,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Palladiem LLC acquired a new position in shares of Ares Capital during the 4th quarter worth about $26,000. SWAN Capital LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth about $27,000. Sankala Group LLC purchased a new stake in Ares Capital during the fourth quarter worth approximately $28,000. Core Wealth Advisors LLC purchased a new stake in Ares Capital during the fourth quarter worth approximately $33,000. Finally, Quarry LP acquired a new position in Ares Capital in the third quarter valued at approximately $33,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

ARCC stock opened at $17.84 on Tuesday. The company has a market capitalization of $12.81 billion, a P/E ratio of 10.94 and a beta of 0.56. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42. The business has a 50 day simple moving average of $18.77 and a 200-day simple moving average of $19.26. 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 announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to analysts’ expectations 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 was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. As a group, equities analysts anticipate 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 will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.8%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is presently 117.79%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. JPMorgan Chase & Co. dropped their target price on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Royal Bank Of Canada cut their price target on shares of 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, Citizens Jmp reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.65.

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.