Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC lowered its holdings in Ares Capital Co. (NASDAQ:ARCC) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,203 shares of the investment management company’s stock after selling 1,879 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Ares Capital were worth $650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nemes Rush Group LLC acquired a new position in Ares Capital during the fourth quarter valued at $25,000. Valley National Advisers Inc. increased its stake in Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after buying an additional 1,096 shares during the period. Pingora Partners LLC acquired a new stake in shares of Ares Capital during the 4th quarter valued at $30,000. First Horizon Advisors Inc. increased its stake in shares of Ares Capital by 93.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock worth $38,000 after acquiring an additional 931 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Ares Capital by 218.7% during the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after purchasing an additional 1,345 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Shares of ARCC stock traded down $0.11 during trading hours on Thursday, hitting $20.83. The company had a trading volume of 3,036,695 shares, compared to its average volume of 3,420,178. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 7.17 and a beta of 1.01. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84. The firm’s fifty day moving average is $21.05 and its 200 day moving average is $20.66.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a return on equity of 12.53% and a net margin of 59.76%. The company had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. During the same period last year, the business earned $0.58 earnings per share. On average, sell-side analysts predict that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.22%. The ex-dividend date is Friday, September 13th. Ares Capital’s payout ratio is currently 65.75%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Truist Financial raised their price objective on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Thursday, May 23rd. Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday. Finally, Oppenheimer boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.