Port Capital LLC Takes $797,000 Position in Ares Capital Corporation $ARCC

Port Capital LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 43,000 shares of the investment management company’s stock, valued at approximately $797,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. 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 lowered their price objective 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 reaffirmed an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Finally, Royal Bank Of Canada cut their target price 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. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Ares Capital Price Performance

Shares of ARCC stock opened at $19.90 on Thursday. The business has a fifty day simple moving average of $19.02 and a 200 day simple moving average of $18.83. The company has a market cap of $14.29 billion, a P/E ratio of 14.74 and a beta of 0.56. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $22.51.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, sell-side analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 142.22%.

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.