Ares Capital Corporation $ARCC Shares Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 265.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,725 shares of the investment management company’s stock after buying an additional 54,267 shares during the quarter. Global Retirement Partners LLC’s holdings in Ares Capital were worth $1,525,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Fourth Dimension Wealth LLC acquired a new stake in shares of Ares Capital during the 2nd quarter valued at approximately $29,000. CNB Bank acquired a new stake in shares of Ares Capital in the second quarter valued at approximately $36,000. WFA of San Diego LLC bought a new position in shares of Ares Capital in the second quarter valued at approximately $36,000. Harbor Asset Planning Inc. bought a new stake in shares of Ares Capital in the 2nd quarter worth $38,000. Finally, Wolff Wiese Magana LLC acquired a new position in Ares Capital during the second quarter worth about $40,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Insider Buying and Selling at Ares Capital

In related news, CEO Michael Kort Schnabel purchased 13,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $20.39 per share, for a total transaction of $265,070.00. Following the completion of the transaction, the chief executive officer owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $20.59 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a market cap of $14.74 billion, a price-to-earnings ratio of 10.30 and a beta of 0.58. The stock’s 50-day moving average is $20.33 and its 200-day moving average is $21.20. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Ares Capital’s revenue was up .9% on a year-over-year basis. Equities analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date was Monday, December 15th. Ares Capital’s payout ratio is presently 96.00%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. UBS Group cut their price target on Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Royal Bank Of Canada cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Capital One Financial set a $22.50 price target on shares of Ares Capital in a research report on Friday, October 10th. Finally, Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Ares Capital has an average rating of “Moderate Buy” and an average target price of $22.25.

Ares Capital Company Profile

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.