Banque Cantonale Vaudoise Has $1.26 Million Stake in Ares Capital Corporation $ARCC

Banque Cantonale Vaudoise lowered its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 51.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,000 shares of the investment management company’s stock after selling 74,000 shares during the period. Banque Cantonale Vaudoise’s holdings in Ares Capital were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Brandywine Oak Private Wealth LLC bought a new position in Ares Capital during the 1st quarter worth $192,000. Riverbridge Partners LLC boosted its position in shares of Ares Capital by 8.4% in the first quarter. Riverbridge Partners LLC now owns 110,366 shares of the investment management company’s stock valued at $1,989,000 after acquiring an additional 8,515 shares during the period. Athena Wealth Management LLC acquired a new position in shares of Ares Capital in the first quarter valued at about $1,384,000. Financial Management Network Inc. increased its position in Ares Capital by 21.5% during the first quarter. Financial Management Network Inc. now owns 212,493 shares of the investment management company’s stock worth $3,827,000 after acquiring an additional 37,647 shares during the period. Finally, Ocean Park Asset Management LLC bought a new position in Ares Capital during the first quarter worth about $595,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $18.21 on Friday. The firm has a 50 day moving average of $18.73 and a 200-day moving average of $19.19. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $23.42. 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 stock has a market capitalization of $13.08 billion, a PE ratio of 11.17 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last released 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). The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, equities research analysts predict that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 dividend yield of 10.5%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio is currently 117.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ARCC shares. B. Riley Financial lowered their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Royal Bank Of Canada cut their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Citizens Jmp reduced their price target 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 reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Finally, Truist Financial lowered their price objective on Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.