Ares Capital Corporation $ARCC Stock Bought by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. raised its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 13.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,619 shares of the investment management company’s stock after buying an additional 36,986 shares during the quarter. Ares Capital comprises about 1.3% of Brown Lisle Cummings Inc.’s portfolio, making the stock its 18th biggest holding. Brown Lisle Cummings Inc.’s holdings in Ares Capital were worth $5,780,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Foresight Capital Management Advisors Inc. raised its stake in Ares Capital by 17.2% during the second quarter. Foresight Capital Management Advisors Inc. now owns 345,778 shares of the investment management company’s stock worth $6,407,000 after purchasing an additional 50,624 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in Ares Capital in the 2nd quarter valued at about $747,000. Concurrent Investment Advisors LLC grew its stake in shares of Ares Capital by 132.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 155,429 shares of the investment management company’s stock valued at $2,880,000 after buying an additional 88,558 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Ares Capital by 53.5% in the 1st quarter. Bank of New York Mellon Corp now owns 240,483 shares of the investment management company’s stock valued at $4,333,000 after buying an additional 83,841 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Ares Capital by 9.5% in the 2nd quarter. HighTower Advisors LLC now owns 3,870,130 shares of the investment management company’s stock valued at $71,714,000 after buying an additional 335,197 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 1.1%

Shares of ARCC opened at $18.72 on Friday. The firm has a market cap of $13.44 billion, a P/E ratio of 13.87 and a beta of 0.61. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $21.14. The company’s 50-day moving average price is $19.47 and its 200 day moving average price is $18.97. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14.

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

Ares Capital Dividend Announcement

The business 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 annualized dividend and a dividend yield of 10.3%. The ex-dividend date was Tuesday, September 15th. Ares Capital’s dividend payout ratio is currently 142.22%.

Wall Street Analyst Weigh In

ARCC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective 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. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, UBS Group raised their target price on Ares Capital from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $20.39.

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.