Ticino Wealth Buys New Shares in Ares Capital Corporation $ARCC

Ticino Wealth purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the 4th quarter, Holdings Channel reports. The firm purchased 133,150 shares of the investment management company’s stock, valued at approximately $2,694,000.

A number of other large investors also recently bought and sold shares of the stock. City Holding Co. grew its stake in shares of Ares Capital by 444.4% during the 3rd quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock valued at $25,000 after buying an additional 1,000 shares during the period. SWAN Capital LLC purchased a new position in shares of Ares Capital in the 3rd quarter worth $27,000. NBT Bank N A NY purchased a new position in shares of Ares Capital in the 3rd quarter worth $31,000. Quarry LP acquired a new position in Ares Capital in the third quarter valued at $33,000. Finally, Ameriflex Group Inc. grew its position in Ares Capital by 201.0% during the third quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock valued at $36,000 after acquiring an additional 1,178 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Up 0.5%

ARCC stock opened at $19.21 on Tuesday. The firm’s 50-day simple moving average is $18.61 and its 200 day simple moving average is $19.65. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.42. The stock has a market cap of $13.80 billion, a PE ratio of 10.30 and a beta of 0.58. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.12.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $793.00 million for the quarter, compared to analysts’ expectations of $795.20 million. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. As a group, sell-side analysts predict that Ares Capital Corporation will post 1.93 EPS for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.0%. Ares Capital’s dividend payout ratio is currently 103.23%.

Wall Street Analyst Weigh In

Several brokerages have commented on ARCC. Weiss Ratings restated a “hold (c+)” rating on shares of Ares Capital in a research note on Monday, December 29th. Keefe, Bruyette & Woods decreased their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. UBS Group dropped their price objective on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Finally, B. Riley Financial restated a “buy” rating on shares of Ares Capital in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Insider Buying and Selling

In related news, CEO Michael Kort Schnabel purchased 12,500 shares of Ares Capital stock in a transaction on Thursday, February 5th. The stock was purchased at an average cost of $19.13 per share, with a total value of $239,125.00. Following the acquisition, the chief executive officer directly owned 40,500 shares in the company, valued at approximately $774,765. This trade represents a 44.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott C. Lem purchased 5,186 shares of the business’s stock in a transaction on Friday, February 6th. The stock was purchased at an average cost of $19.29 per share, with a total value of $100,037.94. Following the acquisition, the chief financial officer owned 39,463 shares in the company, valued at approximately $761,241.27. This represents a 15.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.49% of the stock is currently owned by company insiders.

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.