Cibc World Market Inc. Takes $3.25 Million Position in Ares Capital Corporation $ARCC

Cibc World Market Inc. acquired a new stake in Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 175,676 shares of the investment management company’s stock, valued at approximately $3,255,000.

A number of other institutional investors also recently bought and sold shares of the stock. Roman Butler Fullerton & Co. increased its stake in Ares Capital by 1.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after purchasing an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Ares Capital by 5.3% during the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock worth $213,000 after buying an additional 532 shares during the period. CWS Financial Advisors LLC lifted its stake in shares of Ares Capital by 4.0% during the first quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock worth $270,000 after buying an additional 582 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in shares of Ares Capital by 5.9% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock valued at $202,000 after buying an additional 592 shares during the last quarter. Finally, Founders Financial Alliance LLC grew its holdings in shares of Ares Capital by 1.8% during the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock valued at $695,000 after buying an additional 620 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Trading Down 0.2%

Shares of Ares Capital stock opened at $19.90 on Thursday. The stock has a market cap of $14.29 billion, a PE ratio of 14.74 and a beta of 0.56. The firm has a fifty day moving average price of $19.02 and a 200 day moving average price of $18.83. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $22.51. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.6%. Ares Capital’s dividend payout ratio is presently 142.22%.

Analyst Ratings Changes

Several research firms recently issued reports on ARCC. B. Riley Financial cut their target price on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Oppenheimer dropped their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Finally, Truist Financial reduced their price objective on Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

About Ares Capital

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.