Chicago Partners Investment Group LLC Acquires 26,260 Shares of Ares Capital Corporation $ARCC

Key Points

• Chicago Partners Investment Group LLC increased its holdings in Ares Capital Corporation by 4.9%, acquiring an additional 26,260 shares to reach a total of 564,302 shares valued at approximately $13 million.
• Ares Capital recently reported earnings of $0.50 per share, falling short of the consensus estimate of $0.51, and had a revenue of $614 million compared to expectations of $748.76 million.
• The company declared a quarterly dividend of $0.48 per share, translating to an annualized dividend yield of 9.8%, with a high dividend payout ratio of 93.66%.

Chicago Partners Investment Group LLC increased its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 564,302 shares of the investment management company's stock after purchasing an additional 26,260 shares during the period. Chicago Partners Investment Group LLC owned approximately 0.08% of Ares Capital worth $13,018,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Elequin Capital LP bought a new stake in shares of Ares Capital in the 1st quarter valued at $30,000. Continuum Advisory LLC grew its holdings in Ares Capital by 320.7% in the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock worth $36,000 after purchasing an additional 1,241 shares during the period. Harbor Asset Planning Inc. acquired a new stake in Ares Capital in the second quarter worth $38,000. Wolff Wiese Magana LLC bought a new stake in Ares Capital in the second quarter valued at $40,000. Finally, Investment Management Corp VA ADV raised its holdings in shares of Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company's stock valued at $41,000 after purchasing an additional 1,206 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Down 0.1%

ARCC stock opened at $19.51 on Friday. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock's 50 day moving average is $21.33 and its 200-day moving average is $21.53. The firm has a market capitalization of $13.76 billion, a PE ratio of 9.52 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The company had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. During the same quarter last year, the company posted $0.61 EPS. Sell-side analysts expect that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital's dividend payout ratio (DPR) is presently 93.66%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. B. Riley upgraded Ares Capital from a "neutral" rating to a "buy" rating and raised their target price for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Citigroup reissued an "outperform" rating on shares of Ares Capital in a research note on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their target price on Ares Capital from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Capital One Financial set a $22.50 price target on shares of Ares Capital in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.63.

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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