Naples Global Advisors LLC Acquires 3,000 Shares of Ares Capital Corporation $ARCC

Naples Global Advisors LLC raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,585 shares of the investment management company’s stock after buying an additional 3,000 shares during the period. Naples Global Advisors LLC’s holdings in Ares Capital were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Elequin Capital LP acquired a new stake in shares of Ares Capital during the first quarter worth approximately $30,000. Continuum Advisory LLC increased its holdings in shares of Ares Capital by 320.7% during the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after buying an additional 1,241 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Ares Capital during the second quarter worth approximately $40,000. Investment Management Corp VA ADV increased its holdings in shares of Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after buying an additional 1,206 shares in the last quarter. Finally, PSI Advisors LLC increased its holdings in shares of Ares Capital by 121.1% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after buying an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARCC. Keefe, Bruyette & Woods raised their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. UBS Group raised their price target on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Citigroup reissued an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a report on Thursday, July 31st. Finally, B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their price target for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Ares Capital Price Performance

ARCC opened at $20.39 on Friday. The company has a fifty day moving average price of $21.97 and a two-hundred day moving average price of $21.72. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The firm has a market capitalization of $14.38 billion, a PE ratio of 9.95 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The business had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. During the same period in the prior year, the firm posted $0.61 EPS. As a group, analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.4%. Ares Capital’s payout ratio is 93.66%.

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.