RBF Capital LLC Purchases Shares of 91,770 Ares Capital Corporation (ARCC)

RBF Capital LLC acquired a new position in Ares Capital Corporation (NASDAQ:ARCC) during the first quarter, Holdings Channel reports. The firm acquired 91,770 shares of the investment management company’s stock, valued at approximately $1,595,000.

Other hedge funds have also added to or reduced their stakes in the company. Muzinich & Co. Inc. raised its stake in Ares Capital Corporation by 67.0% in the first quarter. Muzinich & Co. Inc. now owns 13,549,229 shares of the investment management company’s stock valued at $235,486,000 after buying an additional 5,436,225 shares in the last quarter. Toronto Dominion Bank raised its stake in Ares Capital Corporation by 781.3% in the first quarter. Toronto Dominion Bank now owns 1,692,000 shares of the investment management company’s stock valued at $29,403,000 after buying an additional 1,500,000 shares in the last quarter. Bank of Montreal Can raised its stake in Ares Capital Corporation by 46.5% in the first quarter. Bank of Montreal Can now owns 3,431,407 shares of the investment management company’s stock valued at $59,637,000 after buying an additional 1,089,635 shares in the last quarter. Columbia Wanger Asset Management LLC raised its stake in Ares Capital Corporation by 59.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 2,267,080 shares of the investment management company’s stock valued at $39,402,000 after buying an additional 844,441 shares in the last quarter. Finally, Ares Management LLC raised its stake in Ares Capital Corporation by 55.2% in the first quarter. Ares Management LLC now owns 2,289,247 shares of the investment management company’s stock valued at $39,787,000 after buying an additional 814,552 shares in the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

Ares Capital Corporation (NASDAQ:ARCC) traded up 0.31% during trading on Friday, reaching $16.29. 1,049,396 shares of the company’s stock traded hands. Ares Capital Corporation has a one year low of $13.85 and a one year high of $17.87. The firm’s 50 day moving average price is $16.61 and its 200-day moving average price is $16.99.

Ares Capital Corporation (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.04. Ares Capital Corporation had a return on equity of 9.32% and a net margin of 44.29%. The company had revenue of $275 million for the quarter, compared to analyst estimates of $294.92 million. During the same period last year, the company earned $0.42 earnings per share. Equities analysts forecast that Ares Capital Corporation will post $1.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.33%. Ares Capital Corporation’s dividend payout ratio (DPR) is presently 110.95%.

WARNING: This piece was originally published by sleekmoney and is owned by of sleekmoney. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://sleekmoney.com/rbf-capital-llc-purchases-shares-of-91770-ares-capital-corporation-arcc/1935411.html.

Several analysts recently commented on ARCC shares. Janney Montgomery Scott restated a “neutral” rating on shares of Ares Capital Corporation in a research report on Monday, May 15th. BMO Capital Markets restated a “hold” rating and set a $15.00 price target on shares of Ares Capital Corporation in a research report on Thursday, June 1st. TheStreet lowered shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a research report on Wednesday, June 14th. Citigroup Inc. raised their price target on shares of Ares Capital Corporation from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Finally, National Securities raised their price target on shares of Ares Capital Corporation from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, February 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $17.94.

About Ares Capital Corporation

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Corporation (NASDAQ:ARCC).

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/rbf-capital-llc-purchases-shares-of-91770-ares-capital-corporation-arcc/1935411.html

Receive News & Ratings for Ares Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *