Canton Hathaway LLC Has $1.22 Million Position in Ares Capital Corporation (NASDAQ:ARCC)

Canton Hathaway LLC grew its stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 122.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,005 shares of the investment management company's stock after purchasing an additional 30,305 shares during the quarter. Canton Hathaway LLC's holdings in Ares Capital were worth $1,219,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ARCC. Montag & Caldwell LLC acquired a new position in shares of Ares Capital during the 4th quarter worth approximately $33,000. VSM Wealth Advisory LLC acquired a new position in shares of Ares Capital during the 4th quarter worth approximately $35,000. PSI Advisors LLC increased its holdings in shares of Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock worth $47,000 after acquiring an additional 1,150 shares during the last quarter. Promus Capital LLC acquired a new position in shares of Ares Capital during the 4th quarter worth approximately $48,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Ares Capital during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Price Performance

Shares of NASDAQ:ARCC traded down $0.02 during trading on Friday, reaching $21.49. 4,428,450 shares of the company traded hands, compared to its average volume of 4,174,550. The company's 50 day moving average is $21.34 and its two-hundred day moving average is $21.92. The firm has a market capitalization of $14.92 billion, a PE ratio of 10.48 and a beta of 0.68. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.02. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week 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 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 business had revenue of $599.00 million for the quarter, compared to analyst estimates of $769.32 million. During the same period last year, the firm posted $0.59 EPS. Ares Capital's quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.93%. Ares Capital's dividend payout ratio (DPR) is currently 93.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARCC. JPMorgan Chase & Co. decreased their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. B. Riley upgraded Ares Capital to a "hold" rating in a research note on Monday, June 16th. Keefe, Bruyette & Woods reduced their price target on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. UBS Group reduced their price target on Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada reduced their price target on Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Ares Capital has a consensus rating of "Moderate Buy" and an average target price of $22.00.

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.