Ares Capital Corporation $ARCC Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC increased its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 33.9% during the third quarter, HoldingsChannel reports. The fund owned 275,891 shares of the investment management company’s stock after buying an additional 69,844 shares during the period. International Assets Investment Management LLC’s holdings in Ares Capital were worth $5,557,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aurora Private Wealth Inc. boosted its stake in shares of Ares Capital by 1.5% during the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock worth $636,000 after acquiring an additional 436 shares in the last quarter. Prostatis Group LLC raised its holdings in Ares Capital by 2.1% during the second quarter. Prostatis Group LLC now owns 22,236 shares of the investment management company’s stock worth $488,000 after purchasing an additional 468 shares during the last quarter. Fountainhead AM LLC raised its holdings in Ares Capital by 5.5% during the second quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock worth $214,000 after purchasing an additional 511 shares during the last quarter. Carnegie Lake Advisors LLC boosted its position in Ares Capital by 0.8% during the second quarter. Carnegie Lake Advisors LLC now owns 65,514 shares of the investment management company’s stock worth $1,439,000 after purchasing an additional 517 shares in the last quarter. Finally, BKM Wealth Management LLC grew its holdings in Ares Capital by 1.3% in the third quarter. BKM Wealth Management LLC now owns 42,394 shares of the investment management company’s stock valued at $865,000 after purchasing an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Insider Activity at Ares Capital

In other Ares Capital news, CEO Michael Kort Schnabel bought 13,000 shares of Ares Capital stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the purchase, the chief executive officer owned 28,000 shares in the company, valued at $570,920. This represents a 86.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Ares Capital Stock Down 0.6%

Shares of NASDAQ:ARCC opened at $20.78 on Friday. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 10.39 and a beta of 0.58. The company has a 50 day moving average of $20.44 and a two-hundred day moving average of $21.09. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.09.

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

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Monday, December 15th. Ares Capital’s dividend payout ratio is presently 96.00%.

Analyst Upgrades and Downgrades

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

About Ares Capital

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.