Family Manage LLC Has $3.40 Million Position in Ares Capital Corporation $ARCC

Family Manage LLC boosted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 86.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 188,441 shares of the investment management company’s stock after acquiring an additional 87,298 shares during the quarter. Family Manage LLC’s holdings in Ares Capital were worth $3,396,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Palladiem LLC bought a new stake in Ares Capital in the fourth quarter worth approximately $26,000. SWAN Capital LLC bought a new position in shares of Ares Capital during the 3rd quarter valued at $27,000. Sankala Group LLC bought a new position in shares of Ares Capital during the 4th quarter valued at $28,000. Core Wealth Advisors LLC acquired a new stake in shares of Ares Capital in the 4th quarter valued at $33,000. Finally, Quarry LP acquired a new stake in shares of Ares Capital in the 3rd quarter valued at $33,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

ARCC stock opened at $18.78 on Monday. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 11.52 and a beta of 0.56. The company has a 50-day moving average of $18.66 and a two-hundred day moving average of $18.95. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $23.15. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Ares Capital Corporation will post 1.9 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Monday, June 15th. Ares Capital’s payout ratio is currently 117.79%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ARCC shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Oppenheimer cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods reduced their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Truist Financial decreased their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, B. Riley Financial lowered their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.