Kapitalo Investimentos Ltda Acquires 11,556 Shares of Ares Capital Co. (NASDAQ:ARCC)

Kapitalo Investimentos Ltda increased its holdings in Ares Capital Co. (NASDAQ:ARCC) by 86.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,883 shares of the investment management company’s stock after acquiring an additional 11,556 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Ares Capital were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ARCC. PNC Financial Services Group Inc. lifted its holdings in shares of Ares Capital by 16.5% during the third quarter. PNC Financial Services Group Inc. now owns 153,658 shares of the investment management company’s stock valued at $2,992,000 after purchasing an additional 21,779 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in Ares Capital by 24.5% in the third quarter. Johnson Investment Counsel Inc. now owns 76,420 shares of the investment management company’s stock worth $1,488,000 after acquiring an additional 15,020 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Ares Capital by 21.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,284,638 shares of the investment management company’s stock valued at $25,012,000 after acquiring an additional 230,223 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Ares Capital in the 3rd quarter worth about $375,000. Finally, Sargent Investment Group LLC raised its holdings in Ares Capital by 5.0% in the third quarter. Sargent Investment Group LLC now owns 263,535 shares of the investment management company’s stock worth $5,131,000 after buying an additional 12,621 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

ARCC traded down $0.12 on Tuesday, hitting $20.59. 920,323 shares of the company’s stock traded hands, compared to its average volume of 3,546,229. Ares Capital Co. has a one year low of $18.00 and a one year high of $21.84. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. The company’s 50 day simple moving average is $20.99 and its 200-day simple moving average is $20.47. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 7.05 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data 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). The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. As a group, research analysts anticipate that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. Ares Capital’s dividend payout ratio is presently 65.75%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Oppenheimer upped their price target on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a report on Thursday, May 23rd. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. Finally, Truist Financial lifted their price target 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 given a buy rating to the stock. Based on data from MarketBeat, the company 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.