Round Rock Advisors LLC Purchases 102,211 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Round Rock Advisors LLC boosted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 148.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,263 shares of the investment management company's stock after purchasing an additional 102,211 shares during the period. Ares Capital comprises approximately 0.7% of Round Rock Advisors LLC's investment portfolio, making the stock its 28th biggest position. Round Rock Advisors LLC's holdings in Ares Capital were worth $3,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Ares Capital by 9.3% in the fourth quarter. Bank of New York Mellon Corp now owns 139,214 shares of the investment management company's stock valued at $3,047,000 after purchasing an additional 11,827 shares during the last quarter. Jones Financial Companies Lllp raised its position in Ares Capital by 89.2% in the fourth quarter. Jones Financial Companies Lllp now owns 8,887 shares of the investment management company's stock valued at $195,000 after purchasing an additional 4,189 shares during the last quarter. Assetmark Inc. raised its position in Ares Capital by 361.8% in the fourth quarter. Assetmark Inc. now owns 3,999 shares of the investment management company's stock valued at $88,000 after purchasing an additional 3,133 shares during the last quarter. M&T Bank Corp bought a new position in Ares Capital in the fourth quarter valued at about $222,000. Finally, Proficio Capital Partners LLC bought a new position in Ares Capital in the fourth quarter valued at about $2,872,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Trading Up 0.5%

Shares of Ares Capital stock traded up $0.13 on Friday, hitting $22.91. 1,130,272 shares of the company's stock traded hands, compared to its average volume of 4,205,055. 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 current ratio of 1.40 and a quick ratio of 1.40. The company has a fifty day moving average of $21.78 and a two-hundred day moving average of $21.96. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 11.16 and a beta of 0.67.

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

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend was Friday, June 13th. Ares Capital's dividend payout ratio (DPR) is currently 93.66%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ARCC shares. B. Riley raised shares of Ares Capital to a "hold" rating in a research note on Monday, June 16th. UBS Group reduced their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.00.

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.