Family Wealth Partners LLC Makes New $358,000 Investment in Ares Capital Corporation $ARCC

Family Wealth Partners LLC acquired a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,295 shares of the investment management company’s stock, valued at approximately $358,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP acquired a new position in Ares Capital during the first quarter worth $30,000. Continuum Advisory LLC boosted its stake in Ares Capital by 320.7% during the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after buying an additional 1,241 shares during the last quarter. Investment Management Corp VA ADV boosted its stake in Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after buying an additional 1,206 shares during the last quarter. PSI Advisors LLC boosted its stake in Ares Capital by 121.1% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after buying an additional 1,150 shares during the last quarter. Finally, Archer Investment Corp boosted its stake in Ares Capital by 281.3% during the first quarter. Archer Investment Corp now owns 2,440 shares of the investment management company’s stock worth $54,000 after buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $20.94 on Tuesday. The stock’s 50-day moving average is $22.38 and its two-hundred day moving average is $21.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 10.21 and a beta of 0.70.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The company had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. During the same quarter last year, the company earned $0.61 EPS. Analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.2%. Ares Capital’s dividend payout ratio is 93.66%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARCC shares. Wells Fargo & Company boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Citigroup reaffirmed an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. JMP Securities set a $23.00 price target on Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Finally, UBS Group upped their price target on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $22.86.

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.