Ares Capital Corporation (NASDAQ:ARCC) Shares Purchased by BluePointe Capital Management LLC

BluePointe Capital Management LLC raised its position in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,387 shares of the investment management company's stock after purchasing an additional 26,965 shares during the period. Ares Capital comprises about 1.2% of BluePointe Capital Management LLC's investment portfolio, making the stock its 21st largest position. BluePointe Capital Management LLC's holdings in Ares Capital were worth $3,089,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ARCC. Generali Asset Management SPA SGR acquired a new position in shares of Ares Capital in the fourth quarter valued at approximately $84,426,000. Two Sigma Investments LP raised its position in shares of Ares Capital by 81.0% in the fourth quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company's stock valued at $58,633,000 after buying an additional 1,198,580 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ares Capital by 26.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after buying an additional 881,450 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ares Capital by 12.3% in the fourth quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock valued at $174,068,000 after buying an additional 871,370 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Ares Capital by 189.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,302,501 shares of the investment management company's stock valued at $28,512,000 after buying an additional 852,801 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. UBS Group cut their price objective 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. Keefe, Bruyette & Woods cut their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ares Capital has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Ares Capital Stock Performance

Shares of ARCC stock opened at $22.86 on Tuesday. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. The company has a 50 day moving average price of $21.82 and a 200 day moving average price of $21.97. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 11.15 and a beta of 0.67.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. During the same period in the previous year, the company earned $0.59 EPS. Ares Capital's revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.40%. The ex-dividend date was Friday, June 13th. Ares Capital's payout ratio is currently 93.66%.

Ares Capital Company 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.

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.