Csenge Advisory Group Sells 13,003 Shares of Ares Capital Co. (NASDAQ:ARCC)

Csenge Advisory Group trimmed its stake in Ares Capital Co. (NASDAQ:ARCC) by 34.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,572 shares of the investment management company’s stock after selling 13,003 shares during the quarter. Csenge Advisory Group’s holdings in Ares Capital were worth $512,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in shares of Ares Capital during the fourth quarter valued at $25,000. Valley National Advisers Inc. grew its position in shares of Ares Capital by 323.3% during the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after purchasing an additional 1,096 shares in the last quarter. Pingora Partners LLC purchased a new stake in shares of Ares Capital during the fourth quarter worth about $30,000. First Horizon Advisors Inc. grew its position in shares of Ares Capital by 93.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock worth $38,000 after purchasing an additional 931 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Ares Capital by 218.7% during the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after purchasing an additional 1,345 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Up 0.1 %

ARCC traded up $0.02 during trading on Thursday, hitting $21.17. 2,221,457 shares of the stock were exchanged, compared to its average volume of 3,486,451. The firm has a 50 day simple moving average of $21.07 and a 200 day simple moving average of $20.58. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 7.24 and a beta of 1.01. Ares Capital Co. has a 1 year low of $18.55 and a 1 year high of $21.84. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. As a group, equities analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.07%. Ares Capital’s dividend payout ratio is presently 65.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research note on Thursday, May 23rd. Oppenheimer increased their price target on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a research note on Tuesday, March 26th. JPMorgan Chase & Co. raised their price objective on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Truist Financial increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Ares Capital Company 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.