Prime Capital Investment Advisors LLC Has $443,000 Stock Position in Ares Capital Corporation $ARCC

Prime Capital Investment Advisors LLC decreased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,155 shares of the investment management company’s stock after selling 7,388 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Ares Capital were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Taylor Frigon Capital Management LLC lifted its holdings in shares of Ares Capital by 20.9% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 126,366 shares of the investment management company’s stock valued at $2,775,000 after buying an additional 21,847 shares during the last quarter. Confluence Investment Management LLC lifted its stake in Ares Capital by 0.6% in the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after acquiring an additional 21,344 shares during the last quarter. Rollins Financial Advisors LLC lifted its stake in Ares Capital by 10.2% in the first quarter. Rollins Financial Advisors LLC now owns 138,139 shares of the investment management company’s stock valued at $3,061,000 after acquiring an additional 12,838 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Ares Capital by 3.2% in the 2nd quarter. Sound Income Strategies LLC now owns 2,453,944 shares of the investment management company’s stock valued at $53,889,000 after purchasing an additional 75,109 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Ares Capital by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock valued at $5,343,000 after purchasing an additional 1,776 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $18.90 on Friday. The business has a 50 day moving average price of $21.61 and a 200 day moving average price of $21.63. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 9.22 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The business had revenue of $614.00 million during the quarter, compared to the consensus estimate of $748.76 million. During the same period in the prior year, the company posted $0.61 earnings per share. Research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 10.2%. Ares Capital’s dividend payout ratio is 93.66%.

Analyst Ratings Changes

ARCC has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. JMP Securities set a $23.00 price target on Ares Capital and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. reduced their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. UBS Group boosted their target price on Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.81.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.