Brendel Financial Advisors LLC Boosts Stake in Ares Capital Corporation (NASDAQ:ARCC)

Brendel Financial Advisors LLC boosted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,570 shares of the investment management company's stock after acquiring an additional 13,598 shares during the quarter. Ares Capital comprises about 1.6% of Brendel Financial Advisors LLC's investment portfolio, making the stock its 25th biggest position. Brendel Financial Advisors LLC's holdings in Ares Capital were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Montag & Caldwell LLC purchased a new stake in shares of Ares Capital in the fourth quarter valued at $33,000. VSM Wealth Advisory LLC bought a new position in Ares Capital during the 4th quarter valued at about $35,000. PSI Advisors LLC grew 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 purchasing an additional 1,150 shares during the last quarter. Promus Capital LLC purchased a new stake in Ares Capital in the 4th quarter worth about $48,000. Finally, SRS Capital Advisors Inc. bought a new stake in Ares Capital in the fourth quarter worth about $60,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ARCC. UBS Group dropped their target price on Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company reduced their target price on Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, B. Riley upgraded shares of Ares Capital to a "hold" rating in a report on Monday, June 16th. One research analyst has rated the stock with a sell rating, three have issued 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 has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Ares Capital Trading Up 0.2%

ARCC traded up $0.04 during trading on Wednesday, hitting $21.56. 3,760,651 shares of the stock were exchanged, compared to its average volume of 4,178,538. 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 firm has a 50 day simple moving average of $21.39 and a 200 day simple moving average of $21.92. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 10.52 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 posted its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The firm had revenue of $599.00 million for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.59 EPS. As a group, equities analysts expect that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's dividend payout ratio (DPR) is 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.