Ares Capital Corporation $ARCC Shares Purchased by Miller Global Investments LLC

Miller Global Investments LLC boosted its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 243.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,673 shares of the investment management company’s stock after purchasing an additional 26,705 shares during the quarter. Miller Global Investments LLC’s holdings in Ares Capital were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth approximately $25,000. Palladiem LLC acquired a new position in Ares Capital in the fourth quarter valued at approximately $26,000. Sankala Group LLC acquired a new position in Ares Capital in the fourth quarter valued at approximately $28,000. Continuum Advisory LLC bought a new position in Ares Capital in the second quarter valued at approximately $30,000. Finally, TOP Private Wealth LLC. bought a new position in Ares Capital in the second quarter valued at approximately $31,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ARCC. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research note on Friday, September 4th. JPMorgan Chase & Co. dropped their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods reduced their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Trading Down 1.6%

Shares of NASDAQ ARCC traded down $0.30 during midday trading on Friday, reaching $18.86. 5,099,460 shares of the stock were exchanged, compared to its average volume of 5,892,589. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $21.14. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.97 and a beta of 0.61. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $18.93.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. As a group, equities research analysts expect that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date was Tuesday, September 15th. Ares Capital’s dividend payout ratio is 142.22%.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that operates as a business development company (BDC). It provides financing to middle-market companies, primarily through directly originated loans and other investments. Ares Capital seeks to support businesses that may require capital for acquisitions, growth initiatives, recapitalizations, refinancings and other corporate purposes.

The company invests across a range of industries and typically provides first-lien senior secured loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments.