Modera Wealth Management LLC Takes Position in Ares Capital Corporation $ARCC

Modera Wealth Management LLC acquired a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,310 shares of the investment management company’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently made changes to their positions in ARCC. Fourth Dimension Wealth LLC purchased a new position in Ares Capital in the 2nd quarter worth about $29,000. Elequin Capital LP purchased a new position in shares of Ares Capital in the 1st quarter worth $30,000. CNB Bank purchased a new position in Ares Capital in the second quarter worth about $36,000. Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital in the second quarter worth approximately $38,000. Finally, Wolff Wiese Magana LLC bought a new stake in Ares Capital during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael Kort Schnabel acquired 13,000 shares of Ares Capital stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the acquisition, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at $570,920. This trade represents a 86.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Ares Capital Price Performance

Ares Capital stock opened at $20.20 on Monday. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The firm has a 50-day moving average price of $20.68 and a 200-day moving average price of $21.56. The firm has a market capitalization of $14.46 billion, a PE ratio of 10.10 and a beta of 0.68. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $658.00 million for the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, equities research analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Monday, December 15th. Ares Capital’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ARCC shares. B. Riley upgraded 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 research report on Wednesday, July 30th. Keefe, Bruyette & Woods dropped their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Citigroup reissued a “market outperform” rating on shares of Ares Capital in a report on Thursday, October 30th. UBS Group cut their target price on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Capital One Financial set a $22.50 price target on shares of Ares Capital in a report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

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.