Ares Capital Corporation $ARCC Shares Purchased by Graypoint LLC

Key Points

• Graypoint LLC increased its stake in Ares Capital Corporation by 9.3%, owning 481,245 shares valued at approximately $10.57 million as of its latest SEC filing.
• Ares Capital reported earnings per share of $0.50 for the latest quarter, missing analyst expectations of $0.51, while also announcing a quarterly dividend of $0.48 with a yield of 9.2%.
• Recently, multiple analysts upgraded their price targets for Ares Capital, with a consensus target price of $22.86 and a current average rating of "Moderate Buy".

Graypoint LLC grew its position in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 481,245 shares of the investment management company's stock after purchasing an additional 40,918 shares during the period. Graypoint LLC owned approximately 0.07% of Ares Capital worth $10,568,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vise Technologies Inc. bought a new position in Ares Capital in the 4th quarter worth approximately $214,000. Integrated Advisors Network LLC bought a new stake in Ares Capital during the 4th quarter valued at $308,000. Palogic Value Management L.P. boosted its position in Ares Capital by 5.0% during the 4th quarter. Palogic Value Management L.P. now owns 104,565 shares of the investment management company's stock worth $2,289,000 after acquiring an additional 4,970 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ares Capital by 14.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 305,583 shares of the investment management company's stock worth $6,689,000 after purchasing an additional 38,624 shares in the last quarter. Finally, Penbrook Management LLC grew its stake in shares of Ares Capital by 23.9% in the first quarter. Penbrook Management LLC now owns 13,490 shares of the investment management company's stock worth $299,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Stock Performance

ARCC stock opened at $20.76 on Wednesday. The firm has a 50 day simple moving average of $22.34 and a 200 day simple moving average of $21.79. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The stock has a market cap of $14.64 billion, a P/E ratio of 10.13 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 (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same quarter in the prior year, the company posted $0.61 EPS. Research analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.48 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.2%. Ares Capital's payout ratio is 93.66%.

Analyst Ratings Changes

ARCC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. UBS Group upped their price target on shares of Ares Capital from $22.00 to $22.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Citigroup reiterated an "outperform" rating on shares of Ares Capital in a research note on Thursday, July 31st. Finally, Wall Street Zen raised Ares Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ares Capital presently has an average rating of "Moderate Buy" and a consensus target price of $22.86.

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.

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