Foundations Investment Advisors LLC Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Foundations Investment Advisors LLC raised its position in Ares Capital Co. (NASDAQ:ARCC) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,020 shares of the investment management company’s stock after acquiring an additional 12,942 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Ares Capital were worth $4,377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in shares of Ares Capital by 5.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock worth $7,913,000 after acquiring an additional 20,202 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Ares Capital by 614.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,198 shares of the investment management company’s stock worth $144,000 after purchasing an additional 6,191 shares in the last quarter. Gilbert & Cook Inc. lifted its position in shares of Ares Capital by 6.6% during the 4th quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock worth $27,737,000 after buying an additional 85,561 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Ares Capital in the 1st quarter valued at $86,227,000. Finally, Trexquant Investment LP purchased a new position in shares of Ares Capital in the 4th quarter valued at $1,609,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Down 0.3 %

Shares of NASDAQ:ARCC opened at $20.93 on Thursday. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $20.85 and its 200-day simple moving average is $20.75. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 7.17 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date is Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is currently 65.75%.

Analyst Ratings Changes

ARCC has been the subject of a number of research reports. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. JMP Securities raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock 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 research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Profile

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.