Kingsview Wealth Management LLC Makes New $1.59 Million Investment in Ares Capital Corporation $ARCC

Kingsview Wealth Management LLC bought a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 85,637 shares of the investment management company’s stock, valued at approximately $1,587,000.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Ares Capital by 6.5% during the first quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock worth $365,000 after acquiring an additional 1,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ares Capital during the 1st quarter worth approximately $273,000. Goldman Sachs Group Inc. raised its stake in shares of Ares Capital by 14.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock worth $62,824,000 after purchasing an additional 358,829 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Ares Capital by 139.9% during the 1st quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock worth $613,000 after purchasing an additional 16,128 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Ares Capital in the 1st quarter valued at approximately $14,766,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. Truist Financial dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Ares Capital Stock Performance

NASDAQ ARCC opened at $19.95 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $14.32 billion, a P/E ratio of 14.78 and a beta of 0.56. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $22.51. The firm has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $18.84.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The company had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. During the same period last year, the firm earned $0.50 earnings per share. Analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. Ares Capital’s dividend payout ratio is currently 142.22%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.