Ares Capital (NASDAQ:ARCC) Stock Price Down 0.4%

Ares Capital Co. (NASDAQ:ARCC)’s share price traded down 0.4% on Monday . The stock traded as low as $20.74 and last traded at $20.76. 792,573 shares were traded during trading, a decline of 78% from the average session volume of 3,548,506 shares. The stock had previously closed at $20.84.

Analyst Upgrades and Downgrades

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

Ares Capital Stock Performance

The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 7.15 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. The firm’s 50 day moving average is $21.03 and its 200-day moving average is $20.53.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. Analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.20%. The ex-dividend date was Friday, June 14th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lewis Asset Management LLC raised its position in Ares Capital by 2.1% during the first quarter. Lewis Asset Management LLC now owns 24,805 shares of the investment management company’s stock worth $516,000 after acquiring an additional 500 shares during the period. Chapin Davis Inc. raised its position in shares of Ares Capital by 2.2% during the 1st quarter. Chapin Davis Inc. now owns 22,966 shares of the investment management company’s stock worth $478,000 after purchasing an additional 501 shares during the last quarter. Lincoln National Corp lifted its stake in Ares Capital by 3.0% in the 4th quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock valued at $354,000 after buying an additional 520 shares in the last quarter. Baron Financial Group LLC boosted its holdings in Ares Capital by 3.0% in the 4th quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock worth $368,000 after buying an additional 543 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in Ares Capital by 0.5% during the 4th quarter. Transcend Capital Advisors LLC now owns 108,577 shares of the investment management company’s stock worth $2,175,000 after buying an additional 557 shares in the last quarter. Hedge funds and other 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.