one8zero8 LLC Buys New Stake in Ares Capital Corporation $ARCC

Key Points

• one8zero8 LLC acquired 397,430 shares of Ares Capital in the second quarter, valued at approximately $7.36 million. The position represents about 1.5% of the investor’s portfolio and 0.06% of ARCC’s outstanding shares.
• Ares Capital reported quarterly EPS of $0.47, in line with analyst expectations, on revenue of $768 million. Shares recently opened at $19.80, with a market capitalization of approximately $14.22 billion.
• The company declared a quarterly dividend of $0.48 per share, or $1.92 annualized, implying a 9.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $20.40.

one8zero8 LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 397,430 shares of the investment management company's stock, valued at approximately $7,364,000. Ares Capital accounts for approximately 1.5% of one8zero8 LLC's investment portfolio, making the stock its 14th largest position. one8zero8 LLC owned 0.06% of Ares Capital as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Roman Butler Fullerton & Co. boosted its position in shares of Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company's stock worth $504,000 after buying an additional 528 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Ares Capital by 5.3% during the 4th quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company's stock valued at $213,000 after buying an additional 532 shares during the period. CWS Financial Advisors LLC lifted its position in Ares Capital by 4.0% during the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company's stock worth $270,000 after acquiring an additional 582 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in Ares Capital by 5.9% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company's stock worth $202,000 after acquiring an additional 592 shares during the period. Finally, Founders Financial Alliance LLC boosted its holdings in Ares Capital by 1.8% in the 4th quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company's stock worth $695,000 after acquiring an additional 620 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

Shares of ARCC stock opened at $19.80 on Thursday. The firm has a fifty day moving average of $18.90 and a two-hundred day moving average of $18.81. The firm has a market cap of $14.22 billion, a P/E ratio of 14.67 and a beta of 0.56. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $22.53. 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 (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The business had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. During the same quarter in the prior year, the business posted $0.50 EPS. As a group, research analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.7%. Ares Capital's dividend payout ratio is presently 142.22%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citizens Jmp dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Ares Capital from $19.00 to $18.50 and set an "overweight" rating for the company in a research note on Thursday, July 2nd. B. Riley Financial lowered their price target on shares of Ares Capital from $22.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Sunday, August 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.40.

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.

Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Corporation (NASDAQ:ARCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source