Pallas Capital Advisors LLC Invests $723,000 in Ares Capital Corporation $ARCC

Pallas Capital Advisors LLC purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 39,030 shares of the investment management company’s stock, valued at approximately $723,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Palladiem LLC acquired a new position in Ares Capital in the 4th quarter valued at about $26,000. SWAN Capital LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth approximately $27,000. Sankala Group LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $28,000. Core Wealth Advisors LLC purchased a new stake in shares of Ares Capital during the 4th quarter valued at approximately $33,000. Finally, Quarry LP purchased a new stake in shares of Ares Capital during the 3rd quarter valued at approximately $33,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $19.80 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $14.22 billion, a P/E ratio of 14.67 and a beta of 0.56. The company has a 50 day moving average price of $18.90 and a 200 day moving average price of $18.81. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $22.53.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. During the same quarter last year, the firm earned $0.50 EPS. Equities research analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.7%. Ares Capital’s payout ratio is presently 142.22%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several analyst reports. Oppenheimer lowered their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Wall Street Zen downgraded Ares Capital from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. B. Riley Financial decreased their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

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.