Jaffetilchin Investment Partners LLC Purchases 16,599 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Jaffetilchin Investment Partners LLC grew its position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,198 shares of the investment management company's stock after purchasing an additional 16,599 shares during the period. Jaffetilchin Investment Partners LLC's holdings in Ares Capital were worth $2,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Generali Asset Management SPA SGR purchased a new stake in Ares Capital in the fourth quarter worth approximately $84,426,000. Raymond James Financial Inc. purchased a new stake in shares of Ares Capital in the 4th quarter valued at $58,159,000. Two Sigma Investments LP grew its holdings in shares of Ares Capital by 81.0% during the 4th quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company's stock valued at $58,633,000 after purchasing an additional 1,198,580 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ares Capital by 26.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after purchasing an additional 881,450 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Ares Capital by 12.3% in the fourth quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock worth $174,068,000 after purchasing an additional 871,370 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company lowered their target price on Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. UBS Group reduced their price target on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. B. Riley upgraded Ares Capital to a "hold" rating in a research report on Monday, June 16th. Finally, Keefe, Bruyette & Woods dropped their price objective on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Ares Capital Price Performance

ARCC opened at $21.75 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $15.10 billion, a PE ratio of 10.61 and a beta of 0.68. The stock's 50 day moving average price is $21.45 and its 200-day moving average price is $21.91. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The company had revenue of $599.00 million during the quarter, compared to analysts' expectations of $769.32 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.92 annualized dividend and a yield of 8.83%. Ares Capital's payout ratio is 93.66%.

Ares Capital Company 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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