Left Brain Wealth Management LLC Grows Position in Ares Capital Corporation (NASDAQ:ARCC)

Left Brain Wealth Management LLC raised its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,545 shares of the investment management company’s stock after purchasing an additional 13,270 shares during the quarter. Left Brain Wealth Management LLC’s holdings in Ares Capital were worth $1,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARCC. World Investment Advisors grew its position in Ares Capital by 4.1% during the fourth quarter. World Investment Advisors now owns 12,521 shares of the investment management company’s stock valued at $274,000 after acquiring an additional 488 shares during the last quarter. BankPlus Wealth Management LLC grew its position in Ares Capital by 2.5% during the first quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company’s stock valued at $439,000 after acquiring an additional 492 shares during the last quarter. Fiduciary Group LLC grew its position in Ares Capital by 2.3% during the fourth quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company’s stock valued at $478,000 after acquiring an additional 500 shares during the last quarter. Western Financial Corp CA grew its position in Ares Capital by 2.2% during the first quarter. Western Financial Corp CA now owns 26,961 shares of the investment management company’s stock valued at $597,000 after acquiring an additional 574 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC grew its position in Ares Capital by 0.6% during the first quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company’s stock valued at $2,316,000 after acquiring an additional 582 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ARCC shares. Royal Bank Of Canada reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. B. Riley upgraded shares of Ares Capital to a “hold” rating in a research report on Monday, June 16th. UBS Group dropped their price objective on Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company increased their price objective on Ares Capital from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Ares Capital from $24.50 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $22.84 on Friday. The firm has a market cap of $15.86 billion, a PE ratio of 11.14 and a beta of 0.67. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. The business has a 50 day moving average price of $21.82 and a 200-day moving average price of $21.97.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results 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). Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The business had revenue of $599.00 million during the quarter, compared to analysts’ expectations of $769.32 million. During the same period in the previous year, the business earned $0.59 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.41%. The ex-dividend date was Friday, June 13th. Ares Capital’s payout ratio is 93.66%.

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.