Plan Group Financial LLC Has $2.19 Million Stock Position in Ares Capital Corporation (NASDAQ:ARCC)

Key Points

• Plan Group Financial LLC increased its stake in Ares Capital Corporation (NASDAQ:ARCC) by 88.7% during the first quarter, owning 98,642 shares valued at approximately $2.19 million.
• Ares Capital reported $0.50 earnings per share in its most recent quarter, slightly missing analyst expectations, with a revenue of $614 million compared to expectations of $748.76 million.
• The company announced a quarterly dividend of $0.48 per share, yielding about 8.6% annually, which will be paid to stockholders of record on September 15th.

Plan Group Financial LLC lifted its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 88.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,642 shares of the investment management company's stock after purchasing an additional 46,359 shares during the quarter. Plan Group Financial LLC's holdings in Ares Capital were worth $2,186,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Montag & Caldwell LLC acquired a new position in shares of Ares Capital during the 4th quarter worth about $33,000. Continuum Advisory LLC lifted its position in shares of Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock worth $36,000 after purchasing an additional 1,241 shares during the last quarter. Investment Management Corp VA ADV lifted its position in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company's stock worth $41,000 after purchasing an additional 1,206 shares during the last quarter. PSI Advisors LLC raised its holdings in Ares Capital by 121.1% in the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock valued at $47,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Archer Investment Corp raised its holdings in Ares Capital by 281.3% in the 1st quarter. Archer Investment Corp now owns 2,440 shares of the investment management company's stock valued at $54,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Price Performance

ARCC traded down $0.06 during trading on Thursday, hitting $22.39. 3,406,833 shares of the stock traded hands, compared to its average volume of 3,445,103. The business has a 50 day moving average price of $22.30 and a 200 day moving average price of $22.04. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 10.92 and a beta of 0.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share 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 business had revenue of $614.00 million during the quarter, compared to the consensus estimate of $748.76 million. During the same period in the prior year, the firm earned $0.61 EPS. Equities research analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 8.6%. Ares Capital's dividend payout ratio is 93.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARCC. JMP Securities set a $23.00 price target on Ares Capital and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price target on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada dropped their price target on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. B. Riley raised Ares Capital from a "neutral" rating to a "buy" rating and lifted their price target for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Finally, Citigroup reissued an "outperform" rating on shares of Ares Capital in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.86.

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.