Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Stiles Financial Services Inc

Stiles Financial Services Inc grew its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,479 shares of the investment management company’s stock after purchasing an additional 746 shares during the period. Stiles Financial Services Inc’s holdings in Ares Capital were worth $468,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Crestwood Advisors Group LLC boosted its holdings in Ares Capital by 88.7% in the second quarter. Crestwood Advisors Group LLC now owns 84,454 shares of the investment management company’s stock worth $1,760,000 after purchasing an additional 39,704 shares during the period. GraniteShares Advisors LLC raised its holdings in Ares Capital by 14.2% during the second quarter. GraniteShares Advisors LLC now owns 96,436 shares of the investment management company’s stock worth $2,010,000 after purchasing an additional 12,023 shares in the last quarter. Mandatum Life Insurance Co Ltd raised its position in Ares Capital by 45.3% in the second quarter. Mandatum Life Insurance Co Ltd now owns 19,141 shares of the investment management company’s stock worth $399,000 after acquiring an additional 5,967 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp grew its stake in shares of Ares Capital by 8.5% in the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 150,489 shares of the investment management company’s stock worth $3,136,000 after purchasing an additional 11,785 shares during the last quarter. Finally, Essex Financial Services Inc. increased its holdings in shares of Ares Capital by 27.3% in the second quarter. Essex Financial Services Inc. now owns 90,337 shares of the investment management company’s stock valued at $1,883,000 after buying an additional 19,386 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. JMP Securities upped their price target 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. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Four 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Stock Performance

Shares of ARCC stock traded up $0.07 during mid-day trading on Monday, reaching $21.08. The stock had a trading volume of 3,573,500 shares, compared to its average volume of 3,408,951. The firm has a market cap of $13.29 billion, a PE ratio of 7.22 and a beta of 1.01. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a one year low of $18.55 and a one year high of $21.84. The firm’s 50 day simple moving average is $20.82 and its 200 day simple moving average is $20.73.

Ares Capital (NASDAQ:ARCC) last posted its 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 business had revenue of $755.00 million for 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 quarter in the previous year, the firm posted $0.58 earnings per share. On average, analysts forecast that Ares Capital Co. will post 2.38 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.11%. The ex-dividend date is Friday, September 13th. Ares Capital’s payout ratio is 65.75%.

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.