Ocean Park Asset Management LLC Invests $595,000 in Ares Capital Corporation $ARCC

Ocean Park Asset Management LLC bought a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 33,039 shares of the investment management company’s stock, valued at approximately $595,000.

Other institutional investors have also made changes to their positions in the company. Palladiem LLC acquired a new position in Ares Capital in the fourth quarter worth about $26,000. SWAN Capital LLC acquired a new stake in Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at approximately $28,000. Core Wealth Advisors LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at approximately $33,000. Finally, Quarry LP bought a new stake in shares of Ares Capital in the 3rd quarter valued at approximately $33,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARCC has been the subject of several analyst reports. B. Riley Financial cut their target price on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Citizens Jmp lowered 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. Oppenheimer dropped their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Wells Fargo & Company reissued an “equal weight” rating and set a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.65.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $18.03 on Monday. The stock has a market capitalization of $12.95 billion, a P/E ratio of 11.06 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. The firm has a 50 day moving average of $18.77 and a 200-day moving average of $19.28.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio is presently 117.79%.

Ares Capital 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.