Arkadios Wealth Advisors Increases Stock Position in Ares Capital Corporation $ARCC

Arkadios Wealth Advisors raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,673 shares of the investment management company’s stock after purchasing an additional 6,924 shares during the quarter. Arkadios Wealth Advisors’ holdings in Ares Capital were worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in Ares Capital in the 1st quarter valued at approximately $30,000. CNB Bank purchased a new stake in shares of Ares Capital during the 2nd quarter worth approximately $36,000. Harbor Asset Planning Inc. purchased a new stake in shares of Ares Capital during the 2nd quarter worth approximately $38,000. Wolff Wiese Magana LLC purchased a new stake in shares of Ares Capital during the 2nd quarter worth approximately $40,000. Finally, Investment Management Corp VA ADV boosted its stake in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after acquiring an additional 1,206 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Capital One Financial set a $22.50 price target on Ares Capital in a research note on Friday, October 10th. UBS Group decreased their price target on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. JMP Securities set a $23.00 price objective on shares of Ares Capital and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday. 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Ares Capital Price Performance

ARCC stock opened at $20.15 on Friday. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20. The stock’s 50 day moving average price is $20.92 and its 200 day moving average price is $21.54. The firm has a market cap of $14.42 billion, a P/E ratio of 10.08 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $766.48 million. During the same quarter in the prior year, the company earned $0.58 EPS. Ares Capital’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio 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.