Tectonic Advisors LLC Has $10.37 Million Stock Position in Ares Capital Corporation (NASDAQ:ARCC)

Tectonic Advisors LLC raised its holdings in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 467,953 shares of the investment management company's stock after acquiring an additional 32,733 shares during the quarter. Tectonic Advisors LLC owned about 0.07% of Ares Capital worth $10,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ARCC. Montag & Caldwell LLC acquired a new stake in shares of Ares Capital in the fourth quarter worth about $33,000. VSM Wealth Advisory LLC acquired a new stake in Ares Capital in the 4th quarter worth approximately $35,000. Continuum Advisory LLC boosted its position in Ares Capital by 320.7% during the first 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 period. PSI Advisors LLC grew its holdings in Ares Capital by 121.1% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock valued at $47,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in Ares Capital by 137.6% during the first quarter. Rosenberg Matthew Hamilton now owns 2,704 shares of the investment management company's stock valued at $60,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Price Performance

Shares of Ares Capital stock traded up $0.31 during trading on Wednesday, hitting $23.06. 2,868,843 shares of the company's stock traded hands, compared to its average volume of 4,213,869. The company has a market cap of $16.01 billion, a PE ratio of 11.25 and a beta of 0.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The firm's fifty day moving average price is $21.95 and its 200 day moving average price is $21.99.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The company had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.92 annualized dividend and a yield of 8.33%. Ares Capital's dividend payout ratio is currently 93.66%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARCC. Wells Fargo & Company lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. UBS Group raised their target price on Ares Capital from $22.00 to $22.50 and gave the company a "neutral" rating in a report on Wednesday. Keefe, Bruyette & Woods cut their price target on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. B. Riley raised shares of Ares Capital to a "hold" rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Ares Capital has an average rating of "Moderate Buy" and an average price target of $22.21.

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.