Havemeyer Place LP Invests $914,000 in Ares Capital Corporation $ARCC

Havemeyer Place LP purchased a new position in Ares Capital Corporation (NASDAQ:ARCC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 45,180 shares of the investment management company’s stock, valued at approximately $914,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SWAN Capital LLC bought a new position in shares of Ares Capital in the 3rd quarter worth $27,000. Core Wealth Advisors LLC bought a new position in shares of Ares Capital in the 4th quarter worth $33,000. Quarry LP bought a new position in shares of Ares Capital in the 3rd quarter worth $33,000. Ameriflex Group Inc. boosted its position in shares of Ares Capital by 201.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,178 shares during the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of Ares Capital in the 2nd quarter worth $36,000. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group reduced their price target on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Oppenheimer reduced their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp reduced their price target on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.75.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $18.79 on Monday. The company has a market capitalization of $13.49 billion, a PE ratio of 11.53 and a beta of 0.56. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock’s fifty day simple moving average is $18.63 and its 200 day simple moving average is $19.39.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. On average, research analysts predict that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is presently 117.79%.

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.