Ares Capital Corporation (NASDAQ:ARCC) Shares Bought by Global Assets Advisory LLC

Global Assets Advisory LLC raised its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 166.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,628 shares of the investment management company's stock after acquiring an additional 41,020 shares during the quarter. Global Assets Advisory LLC's holdings in Ares Capital were worth $1,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Montag & Caldwell LLC purchased a new position in shares of Ares Capital during the 4th quarter valued at $33,000. VSM Wealth Advisory LLC bought a new stake in Ares Capital in the fourth quarter worth $35,000. Continuum Advisory LLC boosted its holdings in Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock valued at $36,000 after acquiring an additional 1,241 shares during the period. PSI Advisors LLC raised its holdings in Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock valued at $47,000 after buying an additional 1,150 shares during the last quarter. Finally, Promus Capital LLC purchased a new position in Ares Capital during the 4th quarter valued at about $48,000. 27.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARCC shares. UBS Group dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company cut their price objective on Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. B. Riley raised Ares Capital to a "hold" rating in a research report on Monday, June 16th. Royal Bank Of Canada reduced their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ares Capital currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Ares Capital Stock Up 0.9%

NASDAQ:ARCC traded up $0.19 during trading hours on Thursday, reaching $21.75. 4,588,316 shares of the company traded hands, compared to its average volume of 4,187,136. The business's 50-day moving average price is $21.42 and its two-hundred day moving average price is $21.91. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $15.10 billion, a P/E ratio of 10.61 and a beta of 0.68. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The business had revenue of $599.00 million during the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. Ares Capital's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. Analysts predict 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 Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's payout ratio is currently 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.