Brown Lisle Cummings Inc. Buys 16,350 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Brown Lisle Cummings Inc. lifted its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,550 shares of the investment management company's stock after acquiring an additional 16,350 shares during the period. Brown Lisle Cummings Inc.'s holdings in Ares Capital were worth $2,937,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Stiles Financial Services Inc increased its position in Ares Capital by 37.8% during the 1st quarter. Stiles Financial Services Inc now owns 66,106 shares of the investment management company's stock valued at $1,465,000 after buying an additional 18,149 shares in the last quarter. TrueMark Investments LLC increased its position in Ares Capital by 47.2% during the 1st quarter. TrueMark Investments LLC now owns 15,889 shares of the investment management company's stock valued at $352,000 after buying an additional 5,097 shares in the last quarter. Acorn Creek Capital LLC increased its position in Ares Capital by 26.1% during the 1st quarter. Acorn Creek Capital LLC now owns 15,408 shares of the investment management company's stock valued at $341,000 after buying an additional 3,191 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Ares Capital by 6.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,076,008 shares of the investment management company's stock valued at $23,844,000 after buying an additional 67,597 shares in the last quarter. Finally, Brendel Financial Advisors LLC increased its position in Ares Capital by 13.2% during the 1st quarter. Brendel Financial Advisors LLC now owns 116,570 shares of the investment management company's stock valued at $2,583,000 after buying an additional 13,598 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Down 0.1%

Ares Capital stock opened at $21.49 on Monday. 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 business's 50-day simple moving average is $21.34 and its two-hundred day simple moving average is $21.92. The company has a market cap of $14.92 billion, a PE ratio of 10.48 and a beta of 0.68. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week 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 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The company had revenue of $599.00 million during the quarter, compared to analysts' expectations of $769.32 million. During the same quarter in the previous year, the company earned $0.59 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.93%. Ares Capital's payout ratio is 93.66%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ARCC shares. B. Riley raised Ares Capital to a "hold" rating in a research report on Monday, June 16th. 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 report on Monday, April 28th. UBS Group reduced their target price on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Royal Bank Of Canada dropped 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. dropped their price target on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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