Ares Capital Corporation $ARCC Shares Purchased by Melia Wealth LLC

Melia Wealth LLC raised its stake in Ares Capital Corporation (NASDAQ:ARCC) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,671 shares of the investment management company’s stock after acquiring an additional 27,041 shares during the period. Ares Capital makes up about 8.2% of Melia Wealth LLC’s portfolio, making the stock its 2nd biggest holding. Melia Wealth LLC owned approximately 0.11% of Ares Capital worth $17,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of Ares Capital during the 2nd quarter worth $877,203,000. Confluence Investment Management LLC raised its holdings in shares of Ares Capital by 0.6% during the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock worth $83,378,000 after buying an additional 21,344 shares in the last quarter. Advisors Capital Management LLC raised its holdings in shares of Ares Capital by 3.0% during the 1st quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock worth $80,396,000 after buying an additional 104,339 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Ares Capital by 9.0% during the 1st quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after buying an additional 293,442 shares in the last quarter. Finally, Allen Investment Management LLC raised its holdings in shares of Ares Capital by 8.4% during the 1st quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock worth $65,930,000 after buying an additional 230,924 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of research analyst reports. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $22.50 to $23.50 in a report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Ares Capital in a report on Wednesday, October 8th. UBS Group boosted their price target on Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Citigroup reissued an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. Finally, Capital One Financial set a $22.50 target price on Ares Capital in a report on Friday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.81.

Ares Capital Price Performance

Shares of ARCC opened at $19.49 on Tuesday. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The business has a 50-day simple moving average of $21.55 and a two-hundred day simple moving average of $21.60. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock has a market cap of $13.75 billion, a PE ratio of 9.51 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last issued 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 analyst estimates of $748.76 million. During the same period in the previous year, the company earned $0.61 EPS. Analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared 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 dividend yield of 9.9%. The ex-dividend date was Monday, September 15th. 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.