Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 20.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,088 shares of the investment management company’s stock after selling 32,583 shares during the period. Transcend Capital Advisors LLC’s holdings in Ares Capital were worth $2,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARCC. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Ares Capital in the 1st quarter worth about $27,000. Ridgewood Investments LLC acquired a new position in Ares Capital during the 1st quarter valued at approximately $37,000. ZRC Wealth Management LLC acquired a new position in Ares Capital during the 1st quarter valued at approximately $46,000. CVA Family Office LLC acquired a new position in Ares Capital during the 2nd quarter valued at approximately $48,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Ares Capital during the 4th quarter valued at approximately $49,000. Institutional investors own 29.32% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of Ares Capital in a research report on Wednesday, July 26th. StockNews.com assumed coverage on shares of Ares Capital in a research report on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet upgraded shares of Ares Capital from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. B. Riley upped their target price on shares of Ares Capital from $20.50 to $21.00 in a research report on Wednesday, July 26th. Finally, Citigroup raised their price target on Ares Capital from $20.00 to $21.00 in a report on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Ares Capital Price Performance

Shares of ARCC remained flat at $19.33 during trading hours on Tuesday. The stock had a trading volume of 1,197,381 shares, compared to its average volume of 3,119,785. The company has a market capitalization of $10.77 billion, a P/E ratio of 11.76 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $19.44 and its two-hundred day moving average is $18.77. Ares Capital Co. has a 1-year low of $16.53 and a 1-year high of $20.17.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 25th. The investment management company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Ares Capital had a net margin of 36.52% and a return on equity of 12.47%. The business had revenue of $634.00 million for the quarter, compared to the consensus estimate of $623.26 million. Sell-side analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.93%. The ex-dividend date is Thursday, September 14th. Ares Capital’s payout ratio is 116.36%.

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.