Ares Capital Corporation (ARCC) : Portland Investment Counsel scooped up 18,500 additional shares in Ares Capital Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 138,325 shares of Ares Capital Corporation which is valued at $2,138,505.Ares Capital Corporation makes up approximately 3.04% of Portland Investment Counsel’s portfolio.
Other Hedge Funds, Including , Alliancebernstein boosted its stake in ARCC in the latest quarter, The investment management firm added 4,090 additional shares and now holds a total of 44,570 shares of Ares Capital Corporation which is valued at $689,052.Lombardia Capital Partners reduced its stake in ARCC by selling 763,102 shares or 30.26% in the most recent quarter. The Hedge Fund company now holds 1,759,110 shares of ARCC which is valued at $27,195,841. Ares Capital Corporation makes up approx 1.99% of Lombardia Capital Partners’s portfolio.Taylor Frigon Capital Management boosted its stake in ARCC in the latest quarter, The investment management firm added 992 additional shares and now holds a total of 55,613 shares of Ares Capital Corporation which is valued at $855,884. Ares Capital Corporation makes up approx 0.86% of Taylor Frigon Capital Management’s portfolio.Whittier Trust Co boosted its stake in ARCC in the latest quarter, The investment management firm added 1,475 additional shares and now holds a total of 25,884 shares of Ares Capital Corporation which is valued at $391,884. Ares Capital Corporation makes up approx 0.02% of Whittier Trust Co’s portfolio.Creative Planning reduced its stake in ARCC by selling 18,767 shares or 42.35% in the most recent quarter. The Hedge Fund company now holds 25,542 shares of ARCC which is valued at $362,952.
Ares Capital Corporation opened for trading at $15.81 and hit $15.935 on the upside on Tuesday, eventually ending the session at $15.92, with a gain of 1.02% or 0.16 points. The heightened volatility saw the trading volume jump to 17,10,524 shares. Company has a market cap of $4,998 M.
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.
Investors should note that on Aug 3, 2016, Ares Capital Corporation announced a cash dividend of $0.3800. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.
Many Wall Street Analysts have commented on Ares Capital Corporation. Ares Capital Corporation was Initiated by National Securities to “Neutral” on Jun 28, 2016.
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.