PVG Asset Management Corp Sells 225,220 Shares of Ares Capital Co. (NASDAQ:ARCC)

PVG Asset Management Corp trimmed its holdings in Ares Capital Co. (NASDAQ:ARCC) by 82.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,966 shares of the investment management company’s stock after selling 225,220 shares during the quarter. PVG Asset Management Corp’s holdings in Ares Capital were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Baltimore Washington Financial Advisors Inc. increased its stake in shares of Ares Capital by 1.0% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 615,591 shares of the investment management company’s stock worth $11,044,000 after acquiring an additional 6,194 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its stake in Ares Capital by 1.5% during the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 158,745 shares of the investment management company’s stock valued at $2,848,000 after purchasing an additional 2,354 shares in the last quarter. Alphasimplex Group LLC bought a new stake in Ares Capital during the 1st quarter valued at about $1,696,000. Cottage Street Advisors LLC increased its stake in Ares Capital by 0.8% during the 2nd quarter. Cottage Street Advisors LLC now owns 199,079 shares of the investment management company’s stock valued at $3,571,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Ares Capital by 3.8% during the 2nd quarter. Advisory Services Network LLC now owns 47,583 shares of the investment management company’s stock valued at $853,000 after purchasing an additional 1,752 shares in the last quarter. Institutional investors own 36.31% of the company’s stock.

Shares of ARCC stock traded down $0.04 during trading hours on Friday, reaching $18.84. The company had a trading volume of 474,735 shares, compared to its average volume of 1,562,301. The business has a fifty day moving average price of $18.71 and a 200-day moving average price of $17.94. Ares Capital Co. has a one year low of $14.50 and a one year high of $19.28. The firm has a market cap of $8.05 billion, a PE ratio of 11.21 and a beta of 0.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts forecast that Ares Capital Co. will post 1.86 EPS for the current year.

ARCC has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of Ares Capital from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $19.00 to $20.00 in a research note on Monday, August 19th. Raymond James raised their price objective on shares of Ares Capital from $19.00 to $19.50 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, August 26th. BidaskClub lowered shares of Ares Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Compass Point lowered shares of Ares Capital from a “buy” rating to a “neutral” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $19.57.

In other Ares Capital news, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $18.44 per share, with a total value of $110,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven B. Mckeever acquired 5,425 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $18.42 per share, for a total transaction of $99,928.50. Following the acquisition, the director now owns 24,795 shares of the company’s stock, valued at approximately $456,723.90. The disclosure for this purchase can be found here. In the last three months, insiders purchased 13,425 shares of company stock worth $247,289. 0.53% of the stock is currently owned by insiders.

Ares Capital 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.

Further Reading: Return on Investment (ROI)

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

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