Ares Capital (NASDAQ:ARCC) Trading Down 0.5%

Ares Capital Co. (NASDAQ:ARCC) traded down 0.5% during mid-day trading on Tuesday . The company traded as low as $20.75 and last traded at $20.84. 868,397 shares changed hands during trading, a decline of 75% from the average session volume of 3,457,383 shares. The stock had previously closed at $20.94.

Analysts Set New Price Targets

ARCC has been the topic of a number of analyst reports. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities lifted their target price on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Stock Down 0.6 %

The company has a market capitalization of $12.79 billion, a P/E ratio of 7.14 and a beta of 1.01. The stock has a 50 day moving average price of $20.71 and a 200 day moving average price of $20.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $714.27 million. During the same quarter last year, the business posted $0.58 EPS. Equities research analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.23%. Ares Capital’s payout ratio is 65.75%.

Institutional Trading of Ares Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in shares of Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock worth $243,434,000 after acquiring an additional 1,961,166 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Ares Capital during the 1st quarter worth about $86,227,000. LPL Financial LLC boosted its stake in Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock worth $72,778,000 after purchasing an additional 273,025 shares during the period. Advisors Capital Management LLC grew its holdings in Ares Capital by 7.8% during the 1st quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock valued at $64,524,000 after buying an additional 223,245 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Ares Capital by 3.8% in the second quarter. Sound Income Strategies LLC now owns 2,138,203 shares of the investment management company’s stock worth $44,560,000 after buying an additional 78,140 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

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.