Ares Capital Corporation $ARCC Stock Position Lowered by Sage Advisors LLC

Sage Advisors LLC lessened its stake in Ares Capital Corporation (NASDAQ:ARCC) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 955,548 shares of the investment management company’s stock after selling 78,430 shares during the period. Ares Capital comprises about 12.8% of Sage Advisors LLC’s holdings, making the stock its 3rd largest holding. Sage Advisors LLC’s holdings in Ares Capital were worth $19,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. City Holding Co. grew its position in Ares Capital by 444.4% during the 3rd quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock worth $25,000 after acquiring an additional 1,000 shares during the last quarter. SWAN Capital LLC purchased a new position in Ares Capital in the 3rd quarter worth approximately $27,000. NBT Bank N A NY bought a new stake in Ares Capital in the third quarter valued at approximately $31,000. Quarry LP purchased a new stake in shares of Ares Capital during the third quarter valued at approximately $33,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Ares Capital during the second quarter valued at approximately $36,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Ares Capital news, CEO Michael Kort Schnabel acquired 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average price of $19.13 per share, with a total value of $239,125.00. Following the completion of the purchase, the chief executive officer directly owned 40,500 shares of the company’s stock, valued at approximately $774,765. The trade was a 44.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott C. Lem purchased 5,186 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was bought at an average price of $19.29 per share, for a total transaction of $100,037.94. Following the purchase, the chief financial officer directly owned 39,463 shares in the company, valued at $761,241.27. The trade was a 15.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is owned by company insiders.

Ares Capital Price Performance

ARCC opened at $17.92 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $12.87 billion, a PE ratio of 9.63 and a beta of 0.59. The stock’s 50 day moving average price is $19.24 and its 200-day moving average price is $20.02. Ares Capital Corporation has a 52-week low of $17.59 and a 52-week high of $23.42.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Ares Capital had a net margin of 42.56% and a return on equity of 9.89%. The company had revenue of $793.00 million for the quarter, compared to analysts’ expectations of $795.20 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. Ares Capital’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.7%. Ares Capital’s dividend payout ratio is currently 103.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Royal Bank Of Canada dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. B. Riley Financial reissued a “buy” rating on shares of Ares Capital in a report on Monday, February 9th. JPMorgan Chase & Co. decreased their price objective on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Capital in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.38.

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.