Brown Advisory Inc. lowered its stake in shares of Ares Capital Corp. (NASDAQ:ARCC) by 53.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,165 shares of the investment management company’s stock after selling 52,480 shares during the period. Brown Advisory Inc.’s holdings in Ares Capital Corp. were worth $641,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Confluence Investment Management LLC raised its stake in shares of Ares Capital Corp. by 7.6% in the second quarter. Confluence Investment Management LLC now owns 3,834,909 shares of the investment management company’s stock valued at $54,456,000 after buying an additional 271,329 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Ares Capital Corp. during the first quarter valued at approximately $387,000. Prudential Financial Inc. raised its stake in shares of Ares Capital Corp. by 323.9% in the first quarter. Prudential Financial Inc. now owns 69,095 shares of the investment management company’s stock valued at $1,025,000 after buying an additional 52,795 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Ares Capital Corp. by 1.0% in the second quarter. Stephens Inc. AR now owns 165,008 shares of the investment management company’s stock valued at $2,343,000 after buying an additional 1,577 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Ares Capital Corp. by 1.3% in the first quarter. IFP Advisors Inc now owns 31,740 shares of the investment management company’s stock valued at $471,000 after buying an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 49.35% of the company’s stock.
Ares Capital Corp. (NASDAQ:ARCC) traded up 0.39% during midday trading on Friday, hitting $15.52. The stock had a trading volume of 788,004 shares. The stock has a 50 day moving average of $15.76 and a 200 day moving average of $15.01. Ares Capital Corp. has a 12 month low of $12.31 and a 12 month high of $16.43.
Ares Capital Corp. (NASDAQ:ARCC) last announced its earnings results on Wednesday, August 3rd. The investment management company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Ares Capital Corp. had a net margin of 41.39% and a return on equity of 9.44%. During the same period in the previous year, the business earned $0.37 earnings per share. Equities analysts anticipate that Ares Capital Corp. will post $1.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.52 annualized dividend and a yield of 9.83%. Ares Capital Corp.’s dividend payout ratio is currently 113.43%.
ARCC has been the subject of a number of research analyst reports. Zacks Investment Research lowered Ares Capital Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. JMP Securities raised their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 9th. Jefferies Group restated a “buy” rating and issued a $17.50 target price on shares of Ares Capital Corp. in a research note on Thursday, August 4th. National Securities initiated coverage on Ares Capital Corp. in a research note on Tuesday, June 28th. They issued a “neutral” rating and a $16.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.78.
In other news, insider Mitchell S. Goldstein purchased 6,472 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average cost of $15.45 per share, with a total value of $99,992.40. Following the completion of the acquisition, the insider now directly owns 195,358 shares of the company’s stock, valued at approximately $3,018,281.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.
About Ares Capital Corp.
Ares Capital Corporation is a specialty finance company that is 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. The Company invests primarily in the United States middle-market companies.
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