Sage Mountain Advisors LLC Buys 2,271 Shares of Ares Capital Co. (NASDAQ:ARCC)

Sage Mountain Advisors LLC increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,484 shares of the investment management company’s stock after acquiring an additional 2,271 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Ares Capital were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jamison Private Wealth Management Inc. lifted its holdings in Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after buying an additional 475 shares during the period. Capital Investment Advisors LLC lifted its holdings in Ares Capital by 1.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after buying an additional 499 shares during the period. Lewis Asset Management LLC lifted its stake in shares of Ares Capital by 2.1% in the 1st quarter. Lewis Asset Management LLC now owns 24,805 shares of the investment management company’s stock valued at $516,000 after purchasing an additional 500 shares during the period. Chapin Davis Inc. lifted its stake in shares of Ares Capital by 2.2% in the 1st quarter. Chapin Davis Inc. now owns 22,966 shares of the investment management company’s stock valued at $478,000 after purchasing an additional 501 shares during the period. Finally, Lincoln National Corp lifted its stake in shares of Ares Capital by 3.0% in the 4th quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock valued at $354,000 after purchasing an additional 520 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Up 0.3 %

NASDAQ:ARCC traded up $0.07 during trading hours on Friday, reaching $21.08. 3,573,597 shares of the company traded hands, compared to its average volume of 3,317,454. The business’s 50-day moving average price is $20.82 and its two-hundred day moving average price is $20.73. The stock has a market capitalization of $13.29 billion, a P/E ratio of 7.22 and a beta of 1.01. Ares Capital Co. has a 1 year low of $18.55 and a 1 year high of $21.84. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $714.27 million. During the same quarter last year, the company earned $0.58 EPS. Analysts predict that Ares Capital Co. will post 2.38 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.11%. The ex-dividend date is Friday, September 13th. Ares Capital’s dividend payout ratio is currently 65.75%.

Analyst Ratings Changes

ARCC has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Compass Point upgraded Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. JMP Securities raised their target price on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Finally, UBS Group upgraded Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Four 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.