Partnervest Advisory Services LLC increased its position in Ares Capital Corporation (NASDAQ:ARCC) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 103,186 shares of the investment management company’s stock after buying an additional 5,289 shares during the period. Ares Capital Corporation comprises approximately 0.8% of Partnervest Advisory Services LLC’s holdings, making the stock its 26th largest position. Partnervest Advisory Services LLC’s holdings in Ares Capital Corporation were worth $1,690,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC boosted its position in shares of Ares Capital Corporation by 16.2% in the first quarter. Penserra Capital Management LLC now owns 5,913 shares of the investment management company’s stock worth $102,000 after buying an additional 825 shares during the last quarter. Coconut Grove Bank boosted its position in shares of Ares Capital Corporation by 366.2% in the first quarter. Coconut Grove Bank now owns 6,480 shares of the investment management company’s stock worth $113,000 after buying an additional 5,090 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Ares Capital Corporation during the fourth quarter worth about $130,000. Global X Management Co. LLC boosted its position in shares of Ares Capital Corporation by 49.4% in the first quarter. Global X Management Co. LLC now owns 8,055 shares of the investment management company’s stock worth $140,000 after buying an additional 2,664 shares during the last quarter. Finally, Glassman Wealth Services bought a new position in shares of Ares Capital Corporation during the first quarter worth about $152,000. 48.34% of the stock is owned by institutional investors and hedge funds.
Shares of Ares Capital Corporation (ARCC) opened at 16.35 on Thursday. Ares Capital Corporation has a 52-week low of $15.01 and a 52-week high of $17.87. The company’s 50-day moving average price is $16.39 and its 200-day moving average price is $16.96.
Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $284 million for the quarter, compared to the consensus estimate of $297.77 million. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. During the same period in the previous year, the firm posted $0.50 EPS. Analysts forecast that Ares Capital Corporation will post $1.40 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.30%. Ares Capital Corporation’s payout ratio is presently 117.83%.
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A number of equities analysts have recently issued reports on ARCC shares. TheStreet raised Ares Capital Corporation from a “c+” rating to a “b” rating in a report on Monday. National Securities reissued a “buy” rating and issued a $19.00 target price on shares of Ares Capital Corporation in a report on Monday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.50 target price on shares of Ares Capital Corporation in a report on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating and issued a $19.50 target price on shares of Ares Capital Corporation in a report on Friday, July 14th. Finally, BidaskClub upgraded Ares Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Ares Capital Corporation currently has an average rating of “Buy” and an average price target of $18.00.
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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