Beverly Hills Private Wealth LLC Sells 1,787 Shares of Ares Capital Co. (NASDAQ:ARCC)

Beverly Hills Private Wealth LLC reduced its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,200 shares of the investment management company’s stock after selling 1,787 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Ares Capital were worth $1,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC increased its position in Ares Capital by 8.5% during the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after purchasing an additional 273,025 shares during the period. Headlands Technologies LLC raised its stake in Ares Capital by 4,171.4% during the second quarter. Headlands Technologies LLC now owns 192,341 shares of the investment management company’s stock worth $4,008,000 after buying an additional 187,838 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its holdings in Ares Capital by 1.6% during the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 720,252 shares of the investment management company’s stock worth $15,010,000 after acquiring an additional 11,180 shares during the period. Choreo LLC acquired a new stake in Ares Capital during the second quarter worth approximately $406,000. Finally, PFG Investments LLC boosted its holdings in shares of Ares Capital by 31.7% during the 2nd quarter. PFG Investments LLC now owns 25,319 shares of the investment management company’s stock worth $528,000 after buying an additional 6,097 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

NASDAQ ARCC opened at $20.53 on Thursday. 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 company has a market cap of $12.94 billion, a PE ratio of 7.03 and a beta of 1.01. Ares Capital Co. has a 52 week low of $18.55 and a 52 week high of $21.84. The firm’s 50-day simple moving average is $20.82 and its two-hundred day simple moving average is $20.76.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.35%. Ares Capital’s payout ratio is 65.75%.

Analysts Set New Price Targets

ARCC has been the topic of a number of research reports. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. UBS Group upgraded Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, JMP Securities upped 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. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.