Ares Capital Corporation (ARCC) : Thornburg Investment Management Inc scooped up 1,230,979 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 12, 2016. The investment management firm now holds a total of 15,318,095 shares of Ares Capital Corporation which is valued at $233.8 Million.Ares Capital Corporation makes up approximately 1.58% of Thornburg Investment Management Inc’s portfolio.
Other Hedge Funds, Including , Baldwin Brothers Incma added ARCC to its portfolio by purchasing 6,000 company shares during the most recent quarter which is valued at $91,560. Ares Capital Corporation makes up approx 0.02% of Baldwin Brothers Incma’s portfolio. Cls Investments sold out all of its stake in ARCC during the most recent quarter. The investment firm sold 6 shares of ARCC which is valued $92.Edgemoor Investment Advisors reduced its stake in ARCC by selling 36,113 shares or 5.55% in the most recent quarter. The Hedge Fund company now holds 614,019 shares of ARCC which is valued at $9.4 Million. Ares Capital Corporation makes up approx 1.48% of Edgemoor Investment Advisors’s portfolio.Commonwealth Equity Services Inc boosted its stake in ARCC in the latest quarter, The investment management firm added 3,189 additional shares and now holds a total of 226,754 shares of Ares Capital Corporation which is valued at $3.4 Million. Ares Capital Corporation makes up approx 0.03% of Commonwealth Equity Services Inc’s portfolio.
Ares Capital Corporation opened for trading at $15.12 and hit $15.3 on the upside on Friday, eventually ending the session at $15.19, with a gain of 1.13% or 0.17 points. The heightened volatility saw the trading volume jump to 12,09,575 shares. Company has a market cap of $4,768,961 M.
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.