BBR Partners LLC Boosts Stock Position in Ares Capital Co. (NASDAQ:ARCC)

BBR Partners LLC boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,181 shares of the investment management company’s stock after acquiring an additional 1,006 shares during the quarter. BBR Partners LLC’s holdings in Ares Capital were worth $3,255,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC raised its stake in shares of Ares Capital by 15.9% in the second quarter. MCF Advisors LLC now owns 8,694 shares of the investment management company’s stock valued at $181,000 after acquiring an additional 1,194 shares in the last quarter. Larson Financial Group LLC increased its holdings in Ares Capital by 7.3% during the 2nd quarter. Larson Financial Group LLC now owns 86,610 shares of the investment management company’s stock worth $1,805,000 after purchasing an additional 5,885 shares during the period. Foundations Investment Advisors LLC raised its position in Ares Capital by 6.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 210,020 shares of the investment management company’s stock valued at $4,377,000 after purchasing an additional 12,942 shares in the last quarter. Fortis Capital Advisors LLC boosted its stake in shares of Ares Capital by 28.2% in the 2nd quarter. Fortis Capital Advisors LLC now owns 32,185 shares of the investment management company’s stock valued at $671,000 after buying an additional 7,081 shares during the period. Finally, Naviter Wealth LLC boosted its stake in shares of Ares Capital by 3.6% in the 2nd quarter. Naviter Wealth LLC now owns 807,867 shares of the investment management company’s stock valued at $16,836,000 after buying an additional 28,347 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ARCC shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, JMP Securities boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Four investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Stock Down 0.3 %

Shares of NASDAQ:ARCC opened at $20.86 on Friday. The firm has a 50 day simple moving average of $20.85 and a 200-day simple moving average of $20.75. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $12.82 billion, a PE ratio of 7.14 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period in the previous year, the company earned $0.58 earnings per share. On average, equities analysts predict that Ares Capital Co. will post 2.38 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.48 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.20%. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

About Ares Capital

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.