Ares Capital Corporation $ARCC Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 82.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 50,000 shares of the investment management company’s stock after selling 232,421 shares during the period. International Assets Investment Management LLC’s holdings in Ares Capital were worth $955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new stake in Ares Capital in the 2nd quarter worth about $25,000. Fortitude Family Office LLC increased its stake in Ares Capital by 145.2% during the 3rd quarter. Fortitude Family Office LLC now owns 1,297 shares of the investment management company’s stock worth $25,000 after buying an additional 768 shares in the last quarter. Continuum Advisory LLC purchased a new stake in Ares Capital during the 2nd quarter worth approximately $30,000. TOP Private Wealth LLC. acquired a new position in shares of Ares Capital during the second quarter valued at approximately $31,000. Finally, MADDEN SECURITIES Corp acquired a new position in shares of Ares Capital during the third quarter valued at approximately $46,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

NASDAQ:ARCC opened at $19.46 on Thursday. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $21.14. The stock’s fifty day moving average is $19.18 and its two-hundred day moving average is $19.01. The company has a market capitalization of $14.06 billion, a P/E ratio of 15.95 and a beta of 0.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.08.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, October 27th. The investment management company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Ares Capital had a net margin of 28.34% and a return on equity of 9.72%. The company had revenue of $763.00 million for the quarter, compared to analyst estimates of $776.34 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. Ares Capital’s revenue was down 2.4% on a year-over-year basis. Equities analysts expect that Ares Capital Corporation will post 1.88 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.9%. Ares Capital’s dividend payout ratio (DPR) is currently 157.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARCC. Truist Financial lowered their price target on Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. UBS Group raised shares of Ares Capital from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, October 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a report on Wednesday, October 28th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $20.39.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company primarily invests in first-lien senior secured loans, second-lien loans, subordinated debt, and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate activities.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management Corporation.