BluePointe Capital Management LLC Sells 20,038 Shares of Ares Capital Co. (NASDAQ:ARCC)

BluePointe Capital Management LLC trimmed its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,486 shares of the investment management company’s stock after selling 20,038 shares during the quarter. Ares Capital comprises approximately 1.6% of BluePointe Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. BluePointe Capital Management LLC’s holdings in Ares Capital were worth $2,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCC. Mirae Asset Global Investments Co. Ltd. boosted its position in Ares Capital by 41.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,338 shares of the investment management company’s stock worth $548,000 after purchasing an additional 7,695 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Ares Capital by 19.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,990 shares of the investment management company’s stock worth $250,000 after buying an additional 1,966 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ares Capital by 206.7% during the first quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after buying an additional 37,412 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Ares Capital by 18.6% during the first quarter. ProShare Advisors LLC now owns 44,656 shares of the investment management company’s stock worth $930,000 after buying an additional 6,992 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Ares Capital by 33.7% during the first quarter. Kingsview Wealth Management LLC now owns 73,123 shares of the investment management company’s stock worth $1,522,000 after buying an additional 18,417 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARCC shares. UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. JMP Securities lifted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Compass Point raised Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Stock Up 0.2 %

ARCC stock opened at $21.58 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a market cap of $13.94 billion, a PE ratio of 8.30 and a beta of 1.01. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.05. The business has a 50-day simple moving average of $21.07 and a 200 day simple moving average of $20.99.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. Sell-side analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.90%. The ex-dividend date is Friday, December 13th. Ares Capital’s payout ratio is 73.85%.

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.