Chicago Partners Investment Group LLC Has $11.18 Million Stock Position in Ares Capital Corporation (NASDAQ:ARCC)

Key Points

• Chicago Partners Investment Group LLC increased its stake in Ares Capital Corporation (ARCC) by 6.0% during the first quarter, owning approximately $11.18 million worth of shares.
• Ares Capital recently announced a quarterly dividend of $0.48 per share, resulting in an annualized yield of 8.6%.
• Analysts have a mixed outlook on Ares Capital, with one sell rating, two hold ratings, and seven buy ratings, leading to an average price target of $22.86.

Chicago Partners Investment Group LLC boosted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 538,042 shares of the investment management company's stock after acquiring an additional 30,668 shares during the quarter. Chicago Partners Investment Group LLC owned approximately 0.08% of Ares Capital worth $11,183,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCC. Montag & Caldwell LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at $33,000. Continuum Advisory LLC raised its holdings in Ares Capital by 320.7% during the 1st 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 last quarter. Investment Management Corp VA ADV lifted its position in Ares Capital by 193.9% during the 1st 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. PSI Advisors LLC boosted its stake in shares of Ares Capital by 121.1% in 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. Finally, Archer Investment Corp grew its position in shares of Ares Capital by 281.3% during the 1st quarter. Archer Investment Corp now owns 2,440 shares of the investment management company's stock worth $54,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 27.38% of the company's stock.

Analyst Ratings Changes

ARCC has been the topic of several analyst reports. UBS Group increased their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the company a "neutral" rating in a report on Wednesday, July 16th. B. Riley raised Ares Capital from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods raised their price target on Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada dropped their price objective on Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Citigroup reissued an "outperform" rating on shares of Ares Capital in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.86.

Ares Capital Stock Performance

ARCC stock opened at $22.45 on Thursday. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The firm has a market cap of $15.84 billion, a PE ratio of 10.95 and a beta of 0.70. The business's 50-day moving average price is $22.29 and its two-hundred day moving average price is $22.04.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data 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 net margin of 44.94% and a return on equity of 10.48%. The business had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date is Monday, September 15th. Ares Capital's dividend payout ratio (DPR) is presently 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.

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