OMERS ADMINISTRATION Corp Has $33.09 Million Holdings in Ares Capital Corporation $ARCC

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Ares Capital Corporation by 10.2%, acquiring an additional 138,100 shares during the first quarter.
• Ares Capital recently declared a quarterly dividend of $0.48 per share, yielding approximately 8.6% annually, with the ex-dividend date set for September 15th.
• Several analysts upgraded their ratings for Ares Capital, with B. Riley raising the target price from $22.50 to $23.50, reflecting positive sentiment in the market.

OMERS ADMINISTRATION Corp lifted its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,493,227 shares of the investment management company's stock after acquiring an additional 138,100 shares during the period. OMERS ADMINISTRATION Corp owned 0.22% of Ares Capital worth $33,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARCC. Elequin Capital LP bought a new stake in shares of Ares Capital in the 1st quarter worth approximately $30,000. Continuum Advisory LLC raised its holdings in shares of Ares Capital by 320.7% in the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Investment Management Corp VA ADV raised its holdings in shares of Ares Capital by 193.9% in the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company's stock worth $41,000 after purchasing an additional 1,206 shares in the last quarter. PSI Advisors LLC raised its holdings in shares of Ares Capital by 121.1% in the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock worth $47,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Archer Investment Corp raised its holdings in shares of Ares Capital by 281.3% during the first quarter. Archer Investment Corp now owns 2,440 shares of the investment management company's stock valued at $54,000 after acquiring an additional 1,800 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Up 0.7%

ARCC stock traded up $0.15 during trading hours on Monday, hitting $22.40. The company's stock had a trading volume of 2,342,110 shares, compared to its average volume of 3,193,942. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $15.80 billion, a PE ratio of 10.93 and a beta of 0.70. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The stock has a 50 day moving average price of $22.46 and a two-hundred day moving average price of $21.93.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $614.00 million during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.61 earnings per share. On average, equities research analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Monday, September 15th. Ares Capital's dividend payout ratio is currently 93.66%.

Wall Street Analyst Weigh In

ARCC has been the topic of a number of recent analyst reports. B. Riley upgraded shares of Ares Capital from a "neutral" rating to a "buy" rating and boosted their price target for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup restated an "outperform" rating on shares of Ares Capital in a report on Thursday, July 31st. 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 Tuesday, May 6th. Finally, UBS Group boosted their price target on shares of Ares Capital from $22.00 to $22.50 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.86.

Ares Capital Profile

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.