Ares Capital Corporation (ARCC) : Raiff Partners Inc added new position in Ares Capital Corporation during the most recent quarter end. The investment management firm now holds 265,000 shares of Ares Capital Corporation which is valued at $4 Million , the company said in a statement filed on May 13, 2016 with the SEC.Ares Capital Corporation makes up approximately 4.69% of Raiff Partners Inc’s portfolio.
Other Hedge Funds, Including , Advent Capital Management De sold out all of its stake in ARCC during the most recent quarter. The investment firm sold 200,000 shares of ARCC which is valued $3.1 Million.Bb&t Securities reduced its stake in ARCC by selling 3,514 shares or 2.61% in the most recent quarter. The Hedge Fund company now holds 131,256 shares of ARCC which is valued at $2 Million. Ares Capital Corporation makes up approx 0.03% of Bb&t Securities’s portfolio.Essex Financial Services reduced its stake in ARCC by selling 900 shares or 4.59% in the most recent quarter. The Hedge Fund company now holds 18,725 shares of ARCC which is valued at $285,744. Ares Capital Corporation makes up approx 0.07% of Essex Financial Services’s portfolio.Investors Capital Advisory Services reduced its stake in ARCC by selling 9,752 shares or 15.79% in the most recent quarter. The Hedge Fund company now holds 52,012 shares of ARCC which is valued at $793,703. Ares Capital Corporation makes up approx 0.16% of Investors Capital Advisory Services’s portfolio.Integrated Wealth Counsel reduced its stake in ARCC by selling 190,120 shares or 59.84% in the most recent quarter. The Hedge Fund company now holds 127,594 shares of ARCC which is valued at $1.9 Million. Ares Capital Corporation makes up approx 4.34% of Integrated Wealth Counsel’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.