MGO One Seven LLC Has $7.61 Million Position in Ares Capital Co. (NASDAQ:ARCC)

MGO One Seven LLC reduced its stake in Ares Capital Co. (NASDAQ:ARCC) by 6.0% in the 2nd quarter, Holdings Channel reports. The firm owned 365,065 shares of the investment management company’s stock after selling 23,407 shares during the period. MGO One Seven LLC’s holdings in Ares Capital were worth $7,608,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARCC. Headlands Technologies LLC boosted its position in shares of Ares Capital by 4,171.4% in the second quarter. Headlands Technologies LLC now owns 192,341 shares of the investment management company’s stock valued at $4,008,000 after acquiring an additional 187,838 shares during the period. Edgemoor Investment Advisors Inc. boosted its position in shares of Ares Capital by 1.6% in the second quarter. Edgemoor Investment Advisors Inc. now owns 720,252 shares of the investment management company’s stock valued at $15,010,000 after acquiring an additional 11,180 shares during the period. Choreo LLC bought a new stake in shares of Ares Capital in the second quarter valued at approximately $406,000. PFG Investments LLC boosted its position in shares of Ares Capital by 31.7% in the second quarter. PFG Investments LLC now owns 25,319 shares of the investment management company’s stock valued at $528,000 after acquiring an additional 6,097 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Ares Capital in the second quarter valued at approximately $162,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. JMP Securities raised their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.71.

Ares Capital Stock Performance

Ares Capital stock opened at $20.54 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a fifty day moving average price of $20.83 and a two-hundred day moving average price of $20.76. Ares Capital Co. has a 52-week low of $18.55 and a 52-week high of $21.84. The firm has a market capitalization of $12.95 billion, a P/E ratio of 7.03 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $714.27 million. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, analysts anticipate that Ares Capital Co. will post 2.38 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.35%. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

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.