Ares Capital Corporation $ARCC Stock: Curated Wealth Partners LLC Cuts Stake

Curated Wealth Partners LLC cut its position in Ares Capital Corporation (NASDAQ:ARCC) by 24.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 161,873 shares of the investment management company’s stock after selling 51,000 shares during the quarter. Curated Wealth Partners LLC’s holdings in Ares Capital were worth $3,092,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ARCC. Strs Ohio acquired a new position in Ares Capital in the first quarter valued at approximately $189,210,000. Bank of America Corp DE acquired a new stake in shares of Ares Capital in the 2nd quarter valued at about $165,569,000. Legal & General Group Plc bought a new stake in Ares Capital in the 2nd quarter valued at about $120,538,000. Advisors Capital Management LLC bought a new stake in shares of Ares Capital during the second quarter valued at approximately $63,140,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Ares Capital in the 2nd quarter worth $53,867,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the topic of several recent research reports. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. JPMorgan Chase & Co. decreased their price target on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods decreased their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. UBS Group boosted their target price on shares of Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.39.

Ares Capital Price Performance

NASDAQ ARCC traded up $0.36 on Thursday, hitting $18.95. The stock had a trading volume of 2,085,157 shares, compared to its average volume of 5,797,915. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $21.14. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 14.03 and a beta of 0.61. The firm has a 50-day moving average of $19.51 and a 200-day moving average of $18.96.

Ares Capital (NASDAQ:ARCC) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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 last year, the company posted $0.50 EPS. Equities analysts expect 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 was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date was Tuesday, September 15th. Ares Capital’s dividend payout ratio is presently 142.22%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that operates as a business development company (BDC). It provides financing to middle-market companies, primarily through directly originated loans and other investments. Ares Capital seeks to support businesses that may require capital for acquisitions, growth initiatives, recapitalizations, refinancings and other corporate purposes.

The company invests across a range of industries and typically provides first-lien senior secured loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments.