Ares Capital Corporation (NASDAQ:ARCC) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. trimmed its holdings in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 10.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 461,803 shares of the investment management company's stock after selling 55,275 shares during the quarter. New South Capital Management Inc. owned about 0.07% of Ares Capital worth $10,234,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Ares Capital by 9.3% in the fourth quarter. Bank of New York Mellon Corp now owns 139,214 shares of the investment management company's stock worth $3,047,000 after acquiring an additional 11,827 shares during the period. Proficio Capital Partners LLC purchased a new stake in Ares Capital in the fourth quarter worth approximately $2,872,000. SVB Wealth LLC purchased a new stake in Ares Capital during the 4th quarter valued at $230,000. US Bancorp DE lifted its holdings in shares of Ares Capital by 4.7% during the 4th quarter. US Bancorp DE now owns 43,056 shares of the investment management company's stock valued at $942,000 after buying an additional 1,945 shares during the period. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Ares Capital in the 4th quarter worth $60,000. Hedge funds and other institutional investors own 27.38% of the company's stock.

Analysts Set New Price Targets

ARCC has been the subject of several research reports. Royal Bank Of Canada reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. B. Riley raised shares of Ares Capital to a "hold" rating in a report on Monday, June 16th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, UBS Group cut their price target on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and an average target price of $22.00.

Ares Capital Stock Up 0.5%

NASDAQ ARCC traded up $0.12 during trading on Friday, reaching $22.38. 2,213,408 shares of the company's stock traded hands, compared to its average volume of 4,206,623. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 10.92 and a beta of 0.67. The company's 50 day simple moving average is $21.61 and its two-hundred day simple moving average is $21.92.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly 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). The firm had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. During the same period in the previous year, the company posted $0.59 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date of this dividend was Friday, June 13th. 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.