Green Square Capital LLC Raises Position in Ares Capital Co. (ARCC)
Green Square Capital LLC boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 432,487 shares of the investment management company’s stock after acquiring an additional 31,968 shares during the period. Ares Capital makes up approximately 1.1% of Green Square Capital LLC’s holdings, making the stock its 22nd largest holding. Green Square Capital LLC owned approximately 0.10% of Ares Capital worth $7,114,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ARCC. Aperio Group LLC grew its stake in shares of Ares Capital by 26.8% in the 1st quarter. Aperio Group LLC now owns 53,383 shares of the investment management company’s stock valued at $847,000 after purchasing an additional 11,286 shares during the period. Private Advisor Group LLC grew its stake in shares of Ares Capital by 35.1% in the 1st quarter. Private Advisor Group LLC now owns 96,315 shares of the investment management company’s stock valued at $1,529,000 after purchasing an additional 25,021 shares during the period. Cetera Advisors LLC grew its stake in shares of Ares Capital by 29.2% in the 1st quarter. Cetera Advisors LLC now owns 79,648 shares of the investment management company’s stock valued at $1,268,000 after purchasing an additional 17,994 shares during the period. Advisors Capital Management LLC grew its stake in shares of Ares Capital by 8.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,646,722 shares of the investment management company’s stock valued at $26,133,000 after purchasing an additional 122,320 shares during the period. Finally, Sfmg LLC grew its stake in shares of Ares Capital by 13.5% in the 1st quarter. Sfmg LLC now owns 129,950 shares of the investment management company’s stock valued at $2,062,000 after purchasing an additional 15,455 shares during the period. Hedge funds and other institutional investors own 40.34% of the company’s stock.
In other news, Director Bates Ann Torre acquired 9,000 shares of Ares Capital stock in a transaction on Wednesday, August 29th. The shares were purchased at an average price of $17.44 per share, with a total value of $156,960.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $348,800. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eric B. Siegel acquired 6,990 shares of Ares Capital stock in a transaction on Wednesday, September 12th. The shares were purchased at an average cost of $17.30 per share, for a total transaction of $120,927.00. Following the acquisition, the director now owns 36,630 shares in the company, valued at approximately $633,699. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 16,190 shares of company stock worth $281,359. Company insiders own 0.49% of the company’s stock.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, August 1st. The investment management company reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $333.00 million for the quarter, compared to analyst estimates of $322.06 million. Ares Capital had a return on equity of 8.98% and a net margin of 69.31%. During the same period in the prior year, the company earned $0.42 EPS. analysts forecast that Ares Capital Co. will post 1.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.39 per share. This is an increase from Ares Capital’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.56 annualized dividend and a yield of 9.02%. Ares Capital’s dividend payout ratio is currently 112.23%.
Several equities research analysts have recently weighed in on the company. BidaskClub upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Citigroup started coverage on Ares Capital in a research report on Thursday, August 23rd. They set a “buy” rating and a $19.00 price target on the stock. National Securities restated a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research report on Monday, August 6th. Finally, JMP Securities increased their price target on Ares Capital from $18.00 to $18.50 and gave the stock a “market outperform” rating in a research report on Monday, June 4th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Ares Capital currently has an average rating of “Buy” and an average target price of $18.32.
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.
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