Pinion Investment Advisors LLC Has $777,000 Stock Holdings in Ares Capital Corporation $ARCC

Key Points

• Pinion Investment Advisors LLC reduced its holdings in Ares Capital Corporation by 49.2%, owning 35,371 shares valued at $777,000 after selling 34,247 shares in the second quarter.
• Ares Capital's latest earnings report showed a missed consensus EPS estimate of $0.50, lower than the expected $0.51, with a revenue of $614.00 million compared to expectations of $748.76 million.
• The company's stock currently has a consensus rating of "Moderate Buy" with a price target of $22.86, and it recently declared a quarterly dividend providing a 10.1% dividend yield.

Pinion Investment Advisors LLC lowered its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 49.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,371 shares of the investment management company's stock after selling 34,247 shares during the quarter. Pinion Investment Advisors LLC's holdings in Ares Capital were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Community Trust & Investment Co. raised its stake in shares of Ares Capital by 0.3% in the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company's stock worth $3,296,000 after purchasing an additional 454 shares during the last quarter. Prostatis Group LLC boosted its holdings in shares of Ares Capital by 2.1% in the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company's stock worth $482,000 after acquiring an additional 457 shares during the period. BankPlus Wealth Management LLC boosted its holdings in shares of Ares Capital by 2.5% in the first 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 boosted its stake in Ares Capital by 3.1% during the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company's stock valued at $379,000 after buying an additional 516 shares during the period. Finally, Ancora Advisors LLC boosted its stake in Ares Capital by 1.2% during the first quarter. Ancora Advisors LLC now owns 47,935 shares of the investment management company's stock valued at $1,062,000 after buying an additional 560 shares during the period. Institutional investors and hedge funds own 27.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. 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 Wednesday, October 1st. Wall Street Zen raised Ares Capital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Weiss Ratings reissued a "buy (b)" rating on shares of Ares Capital in a report on Wednesday. B. Riley upgraded Ares Capital from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Finally, JMP Securities set a $23.00 price objective on Ares Capital and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.86.

Ares Capital Stock Performance

Ares Capital stock opened at $19.10 on Friday. The company has a market capitalization of $13.47 billion, a PE ratio of 9.32 and a beta of 0.68. The company has a 50 day moving average price of $21.68 and a 200-day moving average price of $21.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The firm had revenue of $614.00 million during the quarter, compared to analysts' expectations of $748.76 million. During the same period in the prior year, the firm posted $0.61 earnings per share. As a group, equities analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared 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 dividend yield of 10.1%. The ex-dividend date was Monday, September 15th. Ares Capital's dividend payout ratio is 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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