Wealth Quarterback LLC Grows Stock Position in Ares Capital Corporation $ARCC

Wealth Quarterback LLC boosted its position in Ares Capital Corporation (NASDAQ:ARCC) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,071 shares of the investment management company’s stock after buying an additional 4,365 shares during the period. Wealth Quarterback LLC’s holdings in Ares Capital were worth $331,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Ares Capital in the second quarter valued at about $877,203,000. HighTower Advisors LLC grew its position in Ares Capital by 87.2% during the first quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock worth $58,084,000 after buying an additional 1,220,570 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Ares Capital during the 1st quarter valued at approximately $14,766,000. CCLA Investment Management boosted its stake in shares of Ares Capital by 26.5% during the 1st quarter. CCLA Investment Management now owns 2,799,023 shares of the investment management company’s stock worth $62,026,000 after acquiring an additional 587,068 shares in the last quarter. Finally, SCS Capital Management LLC acquired a new stake in shares of Ares Capital in the 1st quarter worth approximately $11,778,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Ares Capital stock opened at $20.31 on Wednesday. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 10.16 and a beta of 0.68. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 1.14. The stock’s 50-day moving average is $20.59 and its 200-day moving average is $21.55.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $0.58 EPS. Equities analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

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

Insider Activity at Ares Capital

In related news, CEO Michael Kort Schnabel bought 13,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $20.39 per share, with a total value of $265,070.00. Following the completion of the transaction, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This represents a 86.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARCC shares. JPMorgan Chase & Co. reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Royal Bank Of Canada dropped their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. UBS Group reduced their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Eight equities 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, Ares Capital has an average rating of “Moderate Buy” and an average price target 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.