PVG Asset Management Corp Sells 29,649 Shares of Ares Capital Corporation (NASDAQ:ARCC)

PVG Asset Management Corp trimmed its stake in Ares Capital Corporation (NASDAQ:ARCC) by 13.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,248 shares of the investment management company’s stock after selling 29,649 shares during the period. Ares Capital Corporation accounts for 1.2% of PVG Asset Management Corp’s portfolio, making the stock its 28th largest position. PVG Asset Management Corp’s holdings in Ares Capital Corporation were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Ares Capital Corporation by 2.9% in the 1st quarter. FMR LLC now owns 8,830,287 shares of the investment management company’s stock worth $153,471,000 after acquiring an additional 251,747 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Ares Capital Corporation by 174.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,725,346 shares of the investment management company’s stock worth $93,782,000 after acquiring an additional 3,640,124 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Ares Capital Corporation by 1.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,495,584 shares of the investment management company’s stock worth $90,020,000 after acquiring an additional 78,599 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Ares Capital Corporation by 4.9% in the 2nd quarter. Confluence Investment Management LLC now owns 4,895,029 shares of the investment management company’s stock worth $80,181,000 after acquiring an additional 229,670 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Ares Capital Corporation by 31.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,004,000 shares of the investment management company’s stock worth $52,210,000 after acquiring an additional 725,980 shares in the last quarter. 44.98% of the stock is owned by hedge funds and other institutional investors.

Shares of Ares Capital Corporation (NASDAQ:ARCC) traded down 0.5781% on Tuesday, hitting $16.4941. The stock had a trading volume of 502,927 shares. The stock has a 50 day moving average price of $16.14 and a 200-day moving average price of $16.53. Ares Capital Corporation has a 12-month low of $15.01 and a 12-month high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. The firm had revenue of $284.00 million during the quarter, compared to analyst estimates of $297.77 million. During the same period in the prior year, the business posted $0.50 EPS. Analysts predict that Ares Capital Corporation will post $1.40 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.16%. The ex-dividend date was Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio is 117.83%.

Several research analysts recently issued reports on the company. BidaskClub raised Ares Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. National Securities reaffirmed a “buy” rating and set a $19.00 target price on shares of Ares Capital Corporation in a research report on Monday, August 7th. Zacks Investment Research lowered Ares Capital Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Citigroup Inc. assumed coverage on Ares Capital Corporation in a research report on Wednesday, September 20th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, TheStreet raised Ares Capital Corporation from a “c+” rating to a “b” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Ares Capital Corporation currently has a consensus rating of “Buy” and an average target price of $17.89.

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About Ares Capital Corporation

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

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