Osaic Holdings Inc. Buys 294,535 Shares of Ares Capital Corporation $ARCC

Osaic Holdings Inc. lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,149,460 shares of the investment management company’s stock after acquiring an additional 294,535 shares during the quarter. Osaic Holdings Inc. owned about 0.30% of Ares Capital worth $47,208,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Aurora Private Wealth Inc. lifted its holdings in Ares Capital by 1.5% in the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock worth $636,000 after purchasing an additional 436 shares during the last quarter. Community Trust & Investment Co. grew its holdings in Ares Capital by 0.3% during the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock valued at $3,296,000 after purchasing an additional 454 shares during the last quarter. Prostatis Group LLC raised its position in shares of Ares Capital by 2.1% in the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock valued at $482,000 after purchasing an additional 457 shares during the period. Fountainhead AM LLC lifted its stake in shares of Ares Capital by 5.5% in the second quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock worth $214,000 after buying an additional 511 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its stake in shares of Ares Capital by 3.1% in the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock worth $379,000 after buying an additional 516 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Capital One Financial set a $22.50 price target on shares of Ares Capital in a report on Friday, October 10th. UBS Group dropped their price objective on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods cut their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada lowered their target price on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

Ares Capital Stock Down 2.6%

NASDAQ ARCC opened at $20.31 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a 50-day simple moving average of $20.19 and a 200 day simple moving average of $21.39. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The stock has a market cap of $14.54 billion, a PE ratio of 10.16 and a beta of 0.59.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. On average, research analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.5%. Ares Capital’s payout ratio is currently 96.00%.

Insider Activity at Ares Capital

In other news, CEO Michael Kort Schnabel bought 13,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the completion of the purchase, the chief executive officer owned 28,000 shares of the company’s stock, valued at $570,920. This trade represents a 86.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

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.