Ares Capital Corporation (ARCC) : Lgt Capital Partners Ltd. reduced its stake in Ares Capital Corporation by 45.65% during the most recent quarter end. The investment management company now holds a total of 1,000,000 shares of Ares Capital Corporation which is valued at $15,480,000 after selling 840,000 shares in Ares Capital Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Ares Capital Corporation makes up approximately 2.18% of Lgt Capital Partners Ltd.’s portfolio.
Other Hedge Funds, Including , Naples Global Advisors reduced its stake in ARCC by selling 350 shares or 0.53% in the most recent quarter. The Hedge Fund company now holds 65,085 shares of ARCC which is valued at $1,007,516. Ares Capital Corporation makes up approx 0.40% of Naples Global Advisors’s portfolio.Advisory Services Network boosted its stake in ARCC in the latest quarter, The investment management firm added 613 additional shares and now holds a total of 39,566 shares of Ares Capital Corporation which is valued at $613,273. Ares Capital Corporation makes up approx 0.12% of Advisory Services Network’s portfolio.Telemus Capital boosted its stake in ARCC in the latest quarter, The investment management firm added 28,012 additional shares and now holds a total of 257,274 shares of Ares Capital Corporation which is valued at $3,998,038. Ares Capital Corporation makes up approx 0.45% of Telemus Capital’s portfolio.West Oak Capital boosted its stake in ARCC in the latest quarter, The investment management firm added 1,035 additional shares and now holds a total of 4,210 shares of Ares Capital Corporation which is valued at $65,423. Ares Capital Corporation makes up approx 0.05% of West Oak Capital’s portfolio.
Ares Capital Corporation closed down -0.14 points or -0.90% at $15.34 with 17,26,065 shares getting traded on Tuesday. Post opening the session at $15.47, the shares hit an intraday low of $15.3 and an intraday high of $15.48 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.
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.