41,020 Shares in Ares Capital Corporation $ARCC Bought by FORA Capital LLC

Key Points

• FORA Capital LLC acquired 41,020 shares of Ares Capital Corporation (NASDAQ:ARCC), valued at approximately $909,000, in the first quarter of the year.
• Analysts have raised price targets for Ares Capital, with firms like Keefe, Bruyette & Woods increasing their target from $22.00 to $23.00 and maintaining an "outperform" rating.
• Ares Capital reported a $0.50 earnings per share (EPS) for the quarter, missing estimates, and has announced a quarterly dividend of $0.48 per share, yielding 8.6% annually.

FORA Capital LLC acquired a new position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,020 shares of the investment management company's stock, valued at approximately $909,000.

Several other large investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC lifted its stake in Ares Capital by 1.3% in the fourth quarter. MML Investors Services LLC now owns 74,687 shares of the investment management company's stock valued at $1,635,000 after buying an additional 946 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Ares Capital by 29.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 44,739 shares of the investment management company's stock valued at $979,000 after buying an additional 10,140 shares during the last quarter. Beacon Pointe Advisors LLC lifted its stake in Ares Capital by 15.3% in the fourth quarter. Beacon Pointe Advisors LLC now owns 263,590 shares of the investment management company's stock valued at $5,770,000 after buying an additional 35,008 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ares Capital by 5.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 233,456 shares of the investment management company's stock valued at $5,110,000 after buying an additional 11,355 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in Ares Capital by 16.5% in the fourth quarter. Lido Advisors LLC now owns 353,577 shares of the investment management company's stock valued at $7,740,000 after buying an additional 49,982 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. UBS Group raised their target price on Ares Capital from $22.00 to $22.50 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada cut their target price on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. B. Riley raised Ares Capital from a "neutral" rating to a "buy" rating and raised their price target for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Finally, JMP Securities set a $23.00 price target on Ares Capital and gave the company a "market outperform" rating in a report on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Ares Capital has a consensus rating of "Moderate Buy" and an average target price of $22.86.

Ares Capital Price Performance

Shares of ARCC opened at $22.31 on Thursday. The firm has a market capitalization of $15.74 billion, a price-to-earnings ratio of 10.88 and a beta of 0.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The stock's fifty day moving average is $22.43 and its 200-day moving average is $21.95.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). The firm had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same period in the previous year, the firm earned $0.61 earnings per share. Equities analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Monday, September 15th. Ares Capital's payout ratio is presently 93.66%.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.