Ares Capital Co. (ARCC) Shares Sold by First Mercantile Trust Co.

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First Mercantile Trust Co. decreased its stake in Ares Capital Co. (NASDAQ:ARCC) by 9.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,230 shares of the investment management company’s stock after selling 790 shares during the quarter. First Mercantile Trust Co.’s holdings in Ares Capital were worth $124,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC raised its holdings in shares of Ares Capital by 6.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 49,340 shares of the investment management company’s stock valued at $845,000 after purchasing an additional 2,942 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Ares Capital by 7.4% during the 1st quarter. Cetera Advisors LLC now owns 110,037 shares of the investment management company’s stock valued at $1,883,000 after purchasing an additional 7,598 shares in the last quarter. First Allied Advisory Services Inc. raised its holdings in shares of Ares Capital by 26.2% during the 1st quarter. First Allied Advisory Services Inc. now owns 49,567 shares of the investment management company’s stock valued at $849,000 after purchasing an additional 10,276 shares in the last quarter. Wealthstar Advisors LLC raised its holdings in shares of Ares Capital by 10.0% during the 1st quarter. Wealthstar Advisors LLC now owns 11,000 shares of the investment management company’s stock valued at $187,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Ares Capital by 0.4% during the 1st quarter. Stephens Inc. AR now owns 161,135 shares of the investment management company’s stock valued at $2,762,000 after purchasing an additional 565 shares in the last quarter. Institutional investors own 39.15% of the company’s stock.

Shares of ARCC opened at $17.96 on Wednesday. The firm has a market capitalization of $7.61 billion, a P/E ratio of 10.69 and a beta of 0.65. Ares Capital Co. has a one year low of $14.50 and a one year high of $18.07. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.84.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 30th. The investment management company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. The firm had revenue of $373.00 million for the quarter, compared to the consensus estimate of $337.96 million. Ares Capital had a net margin of 59.58% and a return on equity of 10.12%. During the same quarter last year, the firm posted $0.57 EPS. On average, research analysts expect that Ares Capital Co. will post 1.79 EPS for the current fiscal year.

The company also recently announced a special dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 9.04%. Ares Capital’s dividend payout ratio (DPR) is presently 95.24%.

A number of research analysts have recently weighed in on ARCC shares. National Securities raised their price target on shares of Ares Capital from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. JMP Securities lifted their target price on shares of Ares Capital from $19.00 to $19.50 and gave the stock a “market outperform” rating in a report on Wednesday, February 13th. BidaskClub upgraded shares of Ares Capital from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Zacks Investment Research downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Wedbush set a $20.00 target price on shares of Ares Capital and gave the stock a “buy” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Ares Capital has a consensus rating of “Buy” and an average target price of $19.25.

In other news, Director Steven B. Mckeever bought 5,640 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average price of $17.52 per share, for a total transaction of $98,812.80. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bates Ann Torre purchased 9,725 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $17.61 per share, for a total transaction of $171,257.25. Following the completion of the transaction, the director now directly owns 24,000 shares in the company, valued at $422,640. The disclosure for this purchase can be found here. Insiders purchased a total of 15,965 shares of company stock worth $280,478 in the last quarter. Insiders own 0.53% of the company’s stock.

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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.

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

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