Ares Capital Corporation (ARCC) : Greenwich Investment Management scooped up 627 additional shares in Ares Capital Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 434,907 shares of Ares Capital Corporation which is valued at $6.6 Million.Ares Capital Corporation makes up approximately 7.77% of Greenwich Investment Management’s portfolio.
Other Hedge Funds, Including , Alliancebernstein boosted its stake in ARCC in the latest quarter, The investment management firm added 2,559 additional shares and now holds a total of 40,480 shares of Ares Capital Corporation which is valued at $617,725.D L Carlson Investment Group Inc reduced its stake in ARCC by selling 300 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 274,909 shares of ARCC which is valued at $4.2 Million. Ares Capital Corporation makes up approx 1.56% of D L Carlson Investment Group Inc’s portfolio. Boulegeris Investments added ARCC to its portfolio by purchasing 12,750 company shares during the most recent quarter which is valued at $193,418. Ares Capital Corporation makes up approx 0.14% of Boulegeris Investments’s portfolio.Stephens Inc Ar reduced its stake in ARCC by selling 21,407 shares or 11.58% in the most recent quarter. The Hedge Fund company now holds 163,431 shares of ARCC which is valued at $2.5 Million. Ares Capital Corporation makes up approx 0.12% of Stephens Inc Ar’s portfolio.
Ares Capital Corporation closed down -0.04 points or -0.27% at $14.97 with 21,52,692 shares getting traded on Wednesday. Post opening the session at $15.11, the shares hit an intraday low of $14.925 and an intraday high of $15.19 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Ares Capital Corporation reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.39. The company had revenue of $248.00 million for the quarter, compared to analysts expectations of $255.95 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.
Investors should note that on May 4, 2016, Ares Capital Corporation announced a cash dividend of $0.3800. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.
Many Wall Street Analysts have commented on Ares Capital Corporation. Shares were Reiterated by Barclays on Feb 25, 2016 to “Overweight” and Lowered the Price Target to $ 16 from a previous price target of $18 .
Ares Capital Corporation is a specialty finance company that is engaged in closed-end non-diversified management investment businesses. The Companys investment objective is to generate both current income and capital appreciation through debt and equity investments investing invest primarily in United States middle-market companies. The Company primarily has three areas of focus: Corporate non-syndicated senior debt mezzanine debt and non-control equity to middle-market companies; Project Finance: high yield senior and mezzanine debt to finance power generation projects; Venture Finance senior secured loans to early-stage and emerging growth companies backed by venture capital firms. The Company invests in sectors such as Healthcare Services Business Services Education Energy Restaurants and Food Services Financial Services among others. The Company is externally managed by its investment adviser Ares Capital Management LLC.