Ares Capital Co. (NASDAQ:ARCC) Position Lifted by Baugh & Associates LLC

Baugh & Associates LLC raised its stake in Ares Capital Co. (NASDAQ:ARCC) by 5.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 243,942 shares of the investment management company’s stock after purchasing an additional 11,875 shares during the period. Ares Capital accounts for approximately 2.7% of Baugh & Associates LLC’s holdings, making the stock its 17th biggest holding. Baugh & Associates LLC’s holdings in Ares Capital were worth $5,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Dark Forest Capital Management LP bought a new stake in shares of Ares Capital during the 3rd quarter valued at about $369,000. Mariner LLC lifted its stake in Ares Capital by 5.6% in the third quarter. Mariner LLC now owns 296,431 shares of the investment management company’s stock valued at $5,771,000 after buying an additional 15,815 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Ares Capital by 31.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,868 shares of the investment management company’s stock valued at $95,000 after acquiring an additional 1,168 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Ares Capital by 31.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 19,438 shares of the investment management company’s stock worth $378,000 after acquiring an additional 4,641 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Ares Capital by 68.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 449,212 shares of the investment management company’s stock valued at $8,746,000 after purchasing an additional 182,949 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Up 0.5 %

ARCC traded up $0.11 during trading on Friday, reaching $20.91. 2,695,026 shares of the stock traded hands, compared to its average volume of 3,552,505. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84. The stock’s 50-day simple moving average is $21.03 and its two-hundred day simple moving average is $20.50. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 7.12 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, equities research analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.18%. The ex-dividend date is Friday, June 14th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ARCC. Oppenheimer lifted their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a report on Thursday, May 23rd. Finally, Truist Financial lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Ares Capital 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.