5T Wealth LLC Sells 7,052 Shares of Ares Capital Corporation (NASDAQ:ARCC)

5T Wealth LLC lessened its stake in Ares Capital Corporation (NASDAQ:ARCC) by 34.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,444 shares of the investment management company’s stock after selling 7,052 shares during the quarter. 5T Wealth LLC’s holdings in Ares Capital were worth $298,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its position in shares of Ares Capital by 6.6% during the fourth quarter. Truist Financial Corp now owns 144,139 shares of the investment management company’s stock worth $3,155,000 after acquiring an additional 8,892 shares in the last quarter. Sigma Planning Corp increased its holdings in Ares Capital by 3.5% during the 4th quarter. Sigma Planning Corp now owns 147,991 shares of the investment management company’s stock worth $3,240,000 after purchasing an additional 5,033 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Ares Capital by 20.3% during the 4th quarter. First Horizon Advisors Inc. now owns 3,564 shares of the investment management company’s stock worth $78,000 after purchasing an additional 602 shares in the last quarter. JBR Co Financial Management Inc raised its stake in shares of Ares Capital by 18.0% in the 4th quarter. JBR Co Financial Management Inc now owns 38,997 shares of the investment management company’s stock valued at $854,000 after purchasing an additional 5,950 shares during the period. Finally, Nan Fung Trinity HK Ltd. bought a new stake in shares of Ares Capital in the fourth quarter valued at about $6,635,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. UBS Group cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. B. Riley upgraded shares of Ares Capital to a “hold” rating in a report on Monday, June 16th. JPMorgan Chase & Co. lowered their price target on shares of Ares Capital from $24.50 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Ares Capital Price Performance

NASDAQ:ARCC opened at $21.49 on Monday. The stock has a market capitalization of $14.92 billion, a PE ratio of 10.48 and a beta of 0.68. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The firm has a fifty day simple moving average of $21.34 and a 200 day simple moving average of $21.92. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.02.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. On average, research analysts expect that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.93%. The ex-dividend date is Friday, June 13th. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

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.