Ares Capital Corporation (ARCC) : Wildcat Capital Management has sold out all of its stake in Ares Capital Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 11, 2016 with the SEC. The investment management company has sold out 175,000 shares of Ares Capital Corporation which is valued at $2,705,500.
Other Hedge Funds, Including , Advisors Capital Management boosted its stake in ARCC in the latest quarter, The investment management firm added 5,080 additional shares and now holds a total of 1,290,448 shares of Ares Capital Corporation which is valued at $19,950,326. Ares Capital Corporation makes up approx 1.95% of Advisors Capital Management’s portfolio.Advocacy Wealth Management Services reduced its stake in ARCC by selling 1,150 shares or 26.44% in the most recent quarter. The Hedge Fund company now holds 3,200 shares of ARCC which is valued at $46,496. Ares Capital Corporation makes up approx 0.02% of Advocacy Wealth Management Services’s portfolio.Boulegeris Investments boosted its stake in ARCC in the latest quarter, The investment management firm added 350 additional shares and now holds a total of 13,100 shares of Ares Capital Corporation which is valued at $186,151. Ares Capital Corporation makes up approx 0.12% of Boulegeris Investments’s portfolio.
Ares Capital Corporation opened for trading at $15.81 and hit $15.935 on the upside on Tuesday, eventually ending the session at $15.92, with a gain of 1.02% or 0.16 points. The heightened volatility saw the trading volume jump to 17,10,524 shares. Company has a market cap of $4,998 M.
On the company’s financial health, Ares Capital Corporation reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.38.Analysts expectations of $ 247.94.During the same quarter in the previous year, the company posted $0.37 EPS.
Investors should note that on Aug 3, 2016, Ares Capital Corporation announced a cash dividend of $0.3800. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.
Many Wall Street Analysts have commented on Ares Capital Corporation. Ares Capital Corporation was Initiated by National Securities to “Neutral” on Jun 28, 2016.
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.