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

Melia Wealth LLC raised its stake in Ares Capital Corporation (NASDAQ:ARCC) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 779,671 shares of the investment management company’s stock after buying an additional 27,041 shares during the period. Ares Capital comprises about 8.2% of Melia Wealth LLC’s portfolio, making the stock its 2nd biggest position. Melia Wealth LLC’s holdings in Ares Capital were worth $17,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of Ares Capital in the 1st quarter valued at about $30,000. Continuum Advisory LLC boosted its position in shares of Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,241 shares in the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at about $40,000. Investment Management Corp VA ADV boosted its position 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 valued at $41,000 after purchasing an additional 1,206 shares in the last quarter. Finally, PSI Advisors LLC boosted its position in shares of Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several research analyst reports. Citigroup restated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. UBS Group upped their target price on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Capital One Financial set a $22.50 target price on Ares Capital in a research report on Friday. Wells Fargo & Company upped their target price on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. cut their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. 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.com, Ares Capital currently has a consensus rating of “Moderate Buy” and an average target price of $22.81.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $19.49 on Tuesday. The company has a market cap of $13.75 billion, a PE ratio of 9.51 and a beta of 0.68. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The business has a 50 day moving average price of $21.55 and a 200-day moving average price 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.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to analysts’ expectations of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same period last year, the company earned $0.61 earnings per share. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.9%. Ares Capital’s dividend payout ratio is 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.