Commerce Bank Takes $1.15 Million Position in Ares Capital Corporation $ARCC

Commerce Bank purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 61,786 shares of the investment management company's stock, valued at approximately $1,145,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Ares Capital by 6.5% during the first quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company's stock worth $365,000 after purchasing an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ares Capital in the first quarter valued at approximately $273,000. Goldman Sachs Group Inc. raised its position in shares of Ares Capital by 14.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company's stock valued at $62,824,000 after purchasing an additional 358,829 shares during the period. Empowered Funds LLC lifted its stake in shares of Ares Capital by 139.9% during the 1st quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company's stock valued at $613,000 after buying an additional 16,128 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Ares Capital during the 1st quarter valued at approximately $14,766,000. 27.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. B. Riley Financial lowered their target price on shares of Ares Capital from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ares Capital in a research report on Tuesday, June 9th. Truist Financial decreased their price objective on Ares Capital from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price objective on Ares Capital from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. Finally, Oppenheimer reduced their target price on Ares Capital from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.40.

Ares Capital Stock Down 0.6%

Shares of NASDAQ:ARCC opened at $19.93 on Wednesday. The firm has a fifty day moving average price of $18.99 and a two-hundred day moving average price of $18.82. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 14.76 and a beta of 0.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. Ares Capital Corporation has a one year low of $17.40 and a one year high of $22.51.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. The company had revenue of $768.00 million for the quarter, compared to the consensus estimate of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same quarter last year, the business posted $0.50 earnings per share. Analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.6%. Ares Capital's payout ratio is presently 142.22%.

About Ares Capital

Ares Capital Corporation NASDAQ: ARCC is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm's flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.

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