Global Assets Advisory LLC Sells 29,674 Shares of Ares Capital Corporation $ARCC

Key Points

• Global Assets Advisory LLC reduced its stake in Ares Capital Corporation by 45.2%, selling 29,674 shares during the second quarter, leaving them with 35,954 shares valued at approximately $793,000.
• Several hedge funds have increased their holdings in Ares Capital, with Community Trust & Investment Co. owning 150,072 shares valued at $3,296,000 after a 0.3% increase in their position.
• Ares Capital announced a quarterly dividend of $0.48 per share, resulting in a annualized yield of 9.5%, with a dividend payout ratio of 93.66%.

Global Assets Advisory LLC decreased its holdings in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 45.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,954 shares of the investment management company's stock after selling 29,674 shares during the quarter. Global Assets Advisory LLC's holdings in Ares Capital were worth $793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ARCC. Community Trust & Investment Co. increased its position in shares of Ares Capital by 0.3% during the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company's stock valued at $3,296,000 after buying an additional 454 shares during the period. Prostatis Group LLC boosted its position in Ares Capital by 2.1% during the 1st quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company's stock valued at $482,000 after acquiring an additional 457 shares in the last quarter. BankPlus Wealth Management LLC grew its holdings in shares of Ares Capital by 2.5% during the 1st quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company's stock worth $439,000 after acquiring an additional 492 shares during the period. Fiduciary Alliance LLC raised its position in shares of Ares Capital by 3.1% in the 2nd quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company's stock worth $379,000 after acquiring an additional 516 shares in the last quarter. Finally, Ancora Advisors LLC lifted its stake in shares of Ares Capital by 1.2% in the 1st quarter. Ancora Advisors LLC now owns 47,935 shares of the investment management company's stock valued at $1,062,000 after purchasing an additional 560 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ARCC shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Ares Capital in a report on Saturday, September 27th. Wall Street Zen upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 1st. B. Riley raised shares of 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. Finally, JMP Securities set a $23.00 price target on Ares Capital and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.86.

Ares Capital Stock Performance

Shares of ARCC opened at $20.15 on Monday. The firm has a market cap of $14.21 billion, a PE ratio of 9.83 and a beta of 0.68. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month 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 stock has a fifty day moving average price of $21.91 and a 200-day moving average price of $21.71.

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

Ares Capital Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 9.5%. The ex-dividend date was Monday, September 15th. Ares Capital's dividend payout ratio (DPR) is presently 93.66%.

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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