D.A. Davidson & CO. Purchases 28,206 Shares of Ares Capital Corporation $ARCC

D.A. Davidson & CO. boosted its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 645,908 shares of the investment management company’s stock after purchasing an additional 28,206 shares during the quarter. D.A. Davidson & CO. owned about 0.09% of Ares Capital worth $11,639,000 as of its most recent filing with the Securities & Exchange Commission.

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

Ares Capital Price Performance

Shares of ARCC stock opened at $19.21 on Friday. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $23.42. The stock’s 50-day moving average is $18.65 and its 200 day moving average is $19.02. The company has a market cap of $13.79 billion, a P/E ratio of 11.79 and a beta of 0.56. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $763.00 million during the quarter, compared to analysts’ expectations of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. Ares Capital’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. Research analysts predict that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date was Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is currently 117.79%.

Analyst Ratings Changes

A number of research analysts have commented on ARCC shares. Oppenheimer cut their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. 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 report on Wednesday, April 22nd. Royal Bank Of Canada lowered 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 report on Wednesday, April 29th. B. Riley Financial dropped their price objective on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average 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.