International Assets Investment Management LLC Acquires 18,341 Shares of Ares Capital Corporation $ARCC

Key Points

• International Assets Investment Management LLC increased its stake in Ares Capital Corporation by 9.8%, acquiring an additional 18,341 shares, bringing its total holdings to 206,047 shares valued at approximately $4.5 million.
• Ares Capital reported an earnings per share (EPS) of $0.50 for the last quarter, falling short of the consensus estimate of $0.51, and generated revenue of $614 million against expectations of $748.76 million.
• The firm declared a quarterly dividend of $0.48 per share, representing an annual yield of 9.8%, with a dividend payout ratio of 93.66%.

International Assets Investment Management LLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,047 shares of the investment management company's stock after acquiring an additional 18,341 shares during the quarter. International Assets Investment Management LLC's holdings in Ares Capital were worth $4,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Koshinski Asset Management Inc. lifted its position in Ares Capital by 4.4% in the 2nd quarter. Koshinski Asset Management Inc. now owns 39,093 shares of the investment management company's stock valued at $858,000 after acquiring an additional 1,659 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Ares Capital by 4.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 58,476 shares of the investment management company's stock valued at $1,284,000 after buying an additional 2,554 shares during the period. Private Trust Co. NA lifted its holdings in shares of Ares Capital by 16.0% during the 2nd quarter. Private Trust Co. NA now owns 26,655 shares of the investment management company's stock valued at $585,000 after buying an additional 3,679 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of Ares Capital during the 2nd quarter valued at $38,000. Finally, WealthPlan Investment Management LLC lifted its holdings in shares of Ares Capital by 46.3% during the 2nd quarter. WealthPlan Investment Management LLC now owns 62,276 shares of the investment management company's stock valued at $1,368,000 after buying an additional 19,698 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Down 0.1%

NASDAQ:ARCC opened at $19.51 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 9.52 and a beta of 0.68. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The business has a fifty day moving average price of $21.33 and a 200-day moving average price of $21.53.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted 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 company had revenue of $614.00 million during the quarter, compared to analysts' expectations of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter last year, the company earned $0.61 earnings per share. Sell-side analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARCC. Wells Fargo & Company increased their price target on Ares Capital from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. UBS Group lowered their price target on Ares Capital from $22.50 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday. JMP Securities set a $23.00 price target on Ares Capital and gave the company a "market outperform" rating in a report on Thursday, July 31st. Wall Street Zen raised Ares Capital from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Capital One Financial set a $22.50 price target on Ares Capital in a report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.63.

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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