PDS Planning Inc Buys 3,730 Shares of Ares Capital Corporation $ARCC

PDS Planning Inc grew its stake in Ares Capital Corporation (NASDAQ:ARCC) by 23.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,896 shares of the investment management company’s stock after purchasing an additional 3,730 shares during the quarter. PDS Planning Inc’s holdings in Ares Capital were worth $437,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC bought a new position in shares of Ares Capital in the second quarter valued at approximately $877,203,000. Confluence Investment Management LLC lifted its holdings in shares of Ares Capital by 0.6% in the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after purchasing an additional 21,344 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in Ares Capital by 3.0% during the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock worth $80,396,000 after acquiring an additional 104,339 shares during the period. LPL Financial LLC lifted its holdings in Ares Capital by 9.0% during the first quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after acquiring an additional 293,442 shares during the period. Finally, Allen Investment Management LLC lifted its holdings in Ares Capital by 8.4% during the first quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock worth $65,930,000 after acquiring an additional 230,924 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Capital One Financial set a $22.50 price target on Ares Capital in a report on Friday. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $22.50 to $23.50 in a report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a report on Wednesday. Finally, Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and a consensus target price of $22.81.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $18.90 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $21.62. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a market capitalization of $13.33 billion, a P/E ratio of 9.22 and a beta of 0.68.

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

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is currently 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.