Townsquare Capital LLC Purchases Shares of 28,378 Ares Capital Co. (NASDAQ:ARCC)

Townsquare Capital LLC acquired a new stake in Ares Capital Co. (NASDAQ:ARCC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,378 shares of the investment management company’s stock, valued at approximately $523,000.

Several other large investors have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp raised its position in shares of Ares Capital by 8.7% in the second quarter. OMERS ADMINISTRATION Corp now owns 3,445,079 shares of the investment management company’s stock valued at $62,644,000 after buying an additional 276,401 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Ares Capital by 13.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,690,619 shares of the investment management company’s stock valued at $48,270,000 after buying an additional 311,400 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Ares Capital by 2.8% in the second quarter. Van ECK Associates Corp now owns 2,356,362 shares of the investment management company’s stock valued at $42,273,000 after buying an additional 64,715 shares during the last quarter. Bank of Montreal Can raised its position in shares of Ares Capital by 3.0% in the second quarter. Bank of Montreal Can now owns 1,829,288 shares of the investment management company’s stock valued at $32,818,000 after buying an additional 53,954 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Ares Capital by 26.5% in the second quarter. LSV Asset Management now owns 1,355,665 shares of the investment management company’s stock valued at $24,320,000 after buying an additional 283,900 shares during the last quarter. 36.31% of the stock is owned by institutional investors and hedge funds.

In other Ares Capital news, CFO Penelope F. Roll acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $18.36 per share, with a total value of $36,720.00. Following the completion of the transaction, the chief financial officer now directly owns 11,147 shares of the company’s stock, valued at $204,658.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $18.44 per share, with a total value of $110,640.00. The disclosure for this purchase can be found here. Insiders bought 13,425 shares of company stock valued at $247,289 in the last three months. Company insiders own 0.53% of the company’s stock.



Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, August 26th. BidaskClub lowered shares of Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Compass Point lowered shares of Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Raymond James upped their price target on shares of Ares Capital from $19.00 to $19.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised shares of Ares Capital from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $19.00 to $20.00 in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Ares Capital currently has a consensus rating of “Buy” and a consensus target price of $19.57.

ARCC stock traded up $0.11 on Wednesday, hitting $18.79. 494,826 shares of the company were exchanged, compared to its average volume of 1,539,930. Ares Capital Co. has a twelve month low of $14.50 and a twelve month high of $19.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.10. The business’s fifty day moving average is $18.75 and its two-hundred day moving average is $17.98. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 11.18 and a beta of 0.60.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The firm had revenue of $382.00 million during the quarter, compared to analyst estimates of $363.60 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. Ares Capital’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts expect that Ares Capital Co. will post 1.86 earnings per share for the current year.

About Ares Capital

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.

Further Reading: Growth and Income Funds

Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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