Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Kathmere Capital Management LLC

Kathmere Capital Management LLC lessened its position in Ares Capital Co. (NASDAQ:ARCC) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,850 shares of the investment management company’s stock after selling 2,070 shares during the quarter. Kathmere Capital Management LLC’s holdings in Ares Capital were worth $997,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Gilbert & Cook Inc. increased its position in shares of Ares Capital by 6.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock valued at $27,737,000 after purchasing an additional 85,561 shares during the last quarter. Assetmark Inc. boosted its holdings in Ares Capital by 218.7% in the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 1,345 shares in the last quarter. Commerce Bank raised its position in Ares Capital by 2.2% in the fourth quarter. Commerce Bank now owns 32,898 shares of the investment management company’s stock worth $659,000 after acquiring an additional 721 shares in the last quarter. StoneX Group Inc. increased its holdings in Ares Capital by 15.5% in the fourth quarter. StoneX Group Inc. now owns 29,555 shares of the investment management company’s stock valued at $592,000 after buying an additional 3,973 shares in the last quarter. Finally, Evoke Wealth LLC grew its stake in Ares Capital by 28.8% in the 4th quarter. Evoke Wealth LLC now owns 46,784 shares of the investment management company’s stock valued at $937,000 after acquiring an additional 10,460 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Performance

Ares Capital stock opened at $20.91 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The stock has a 50 day moving average of $20.71 and a 200-day moving average of $20.78. The stock has a market cap of $12.85 billion, a P/E ratio of 7.16 and a beta of 1.01. Ares Capital Co. has a 52 week low of $18.55 and a 52 week high of $21.84.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period in the prior year, the firm posted $0.58 EPS. On average, analysts expect that Ares Capital Co. will post 2.39 EPS for the current fiscal 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 given a $0.48 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.18%. Ares Capital’s payout ratio is 65.75%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Finally, JMP Securities upped their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

About Ares Capital

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.