V Wealth Management LLC raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 20.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,769 shares of the investment management company’s stock after buying an additional 5,124 shares during the period. V Wealth Management LLC’s holdings in Ares Capital Corporation were worth $502,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ARCC. Bank of Montreal Can increased its position in Ares Capital Corporation by 46.5% in the first quarter. Bank of Montreal Can now owns 3,431,407 shares of the investment management company’s stock worth $59,637,000 after buying an additional 1,089,635 shares during the period. Chesley Taft & Associates LLC increased its position in Ares Capital Corporation by 0.5% in the first quarter. Chesley Taft & Associates LLC now owns 52,695 shares of the investment management company’s stock worth $916,000 after buying an additional 270 shares during the period. Burke & Herbert Bank & Trust Co. increased its position in Ares Capital Corporation by 11.3% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 18,146 shares of the investment management company’s stock worth $316,000 after buying an additional 1,846 shares during the period. Raymond James Trust N.A. acquired a new position in Ares Capital Corporation during the first quarter worth approximately $231,000. Finally, Contravisory Investment Management Inc. acquired a new position in Ares Capital Corporation during the first quarter worth approximately $2,164,000. 48.57% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital Corporation (NASDAQ ARCC) traded up 0.37% during mid-day trading on Monday, reaching $16.49. 1,054,651 shares of the company were exchanged. Ares Capital Corporation has a 1-year low of $14.20 and a 1-year high of $17.87. The stock has a 50-day moving average of $16.52 and a 200 day moving average of $16.98.
Ares Capital Corporation (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company had revenue of $275 million during the quarter, compared to analysts’ expectations of $294.92 million. Ares Capital Corporation had a net margin of 44.29% and a return on equity of 9.32%. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities research analysts predict that Ares Capital Corporation will post $1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.52 annualized dividend and a yield of 9.22%. Ares Capital Corporation’s dividend payout ratio is currently 110.95%.
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A number of research firms have commented on ARCC. Jefferies Group LLC reissued a “buy” rating and set a $19.50 target price on shares of Ares Capital Corporation in a research report on Friday, April 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Ares Capital Corporation in a research report on Tuesday, April 11th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Ares Capital Corporation in a research report on Friday, May 5th. National Securities raised shares of Ares Capital Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $19.00 in a research report on Monday, May 8th. Finally, BidaskClub raised shares of Ares Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Ares Capital Corporation currently has a consensus rating of “Buy” and an average target price of $17.90.
Ares Capital Corporation Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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