Sax Wealth Advisors LLC Purchases 1,076 Shares of Ares Capital Corporation $ARCC

Sax Wealth Advisors LLC increased its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,311 shares of the investment management company’s stock after acquiring an additional 1,076 shares during the period. Sax Wealth Advisors LLC’s holdings in Ares Capital were worth $512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Ares Capital by 2,116.0% in the 1st quarter. GAMMA Investing LLC now owns 13,274 shares of the investment management company’s stock valued at $2,940,000 after buying an additional 12,675 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Ares Capital in the 1st quarter valued at $222,000. Farther Finance Advisors LLC increased its stake in Ares Capital by 21.0% in the 1st quarter. Farther Finance Advisors LLC now owns 59,698 shares of the investment management company’s stock valued at $1,331,000 after buying an additional 10,353 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in Ares Capital by 799.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 120,243 shares of the investment management company’s stock valued at $2,665,000 after buying an additional 106,881 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Ares Capital by 2.8% in the 1st quarter. SG Americas Securities LLC now owns 24,361 shares of the investment management company’s stock valued at $540,000 after buying an additional 666 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the topic of several recent research reports. UBS Group lifted their price target on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and lifted their price target for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Citigroup reissued an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Stock Performance

Shares of ARCC stock opened at $19.67 on Thursday. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 9.60 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50-day simple moving average of $21.75 and a 200 day simple moving average of $21.67. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced 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 company had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same period in the previous year, the firm posted $0.61 EPS. On average, sell-side analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.8%. Ares Capital’s payout ratio 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.