Wealthcare Capital Partners LLC Lowers Stock Holdings in Ares Capital Corporation $ARCC

Wealthcare Capital Partners LLC lessened its stake in Ares Capital Corporation (NASDAQ:ARCC) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,446 shares of the investment management company’s stock after selling 2,223 shares during the quarter. Wealthcare Capital Partners LLC’s holdings in Ares Capital were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ARCC. Elequin Capital LP acquired a new position in shares of Ares Capital in the 1st quarter valued at $30,000. Continuum Advisory LLC boosted its holdings in shares of Ares Capital by 320.7% in the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Ares Capital in the 2nd quarter valued at $40,000. Investment Management Corp VA ADV boosted its holdings in shares of Ares Capital by 193.9% in the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,206 shares during the last quarter. Finally, PSI Advisors LLC boosted its holdings in shares of Ares Capital by 121.1% in the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

ARCC has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and lifted their target price for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Citigroup restated an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. Finally, UBS Group lifted their target price on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $22.86.

Ares Capital Trading Down 1.2%

Shares of NASDAQ:ARCC opened at $20.15 on Friday. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The firm has a market cap of $14.21 billion, a P/E ratio of 9.83 and a beta of 0.68. The company has a 50 day moving average of $21.91 and a 200-day moving average of $21.71. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01.

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

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.5%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio is currently 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.