Ares Capital Corporation $ARCC Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 7.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,805 shares of the investment management company’s stock after buying an additional 6,114 shares during the period. Kingsview Wealth Management LLC’s holdings in Ares Capital were worth $1,906,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Ares Capital by 14.8% in the 1st quarter. Bank of New York Mellon Corp now owns 159,766 shares of the investment management company’s stock worth $3,540,000 after acquiring an additional 20,552 shares during the last quarter. Wealthfront Advisers LLC increased its stake in Ares Capital by 38.6% in the 1st quarter. Wealthfront Advisers LLC now owns 21,270 shares of the investment management company’s stock worth $471,000 after purchasing an additional 5,923 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in Ares Capital by 1.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 102,544 shares of the investment management company’s stock worth $2,272,000 after buying an additional 1,501 shares during the period. IFP Advisors Inc lifted its stake in Ares Capital by 16.3% during the first quarter. IFP Advisors Inc now owns 24,921 shares of the investment management company’s stock valued at $552,000 after buying an additional 3,492 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Ares Capital by 112.6% in the first quarter. J.W. Cole Advisors Inc. now owns 95,731 shares of the investment management company’s stock worth $2,121,000 after buying an additional 50,699 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 0.8%

ARCC opened at $19.52 on Wednesday. The company has a market capitalization of $13.97 billion, a PE ratio of 9.76 and a beta of 0.68. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 1.14. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The business has a 50-day moving average of $20.36 and a 200-day moving average of $21.52.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting the consensus estimate 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 firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. Equities research analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s payout ratio is presently 96.00%.

Analysts Set New Price Targets

ARCC has been the topic of a number of recent analyst reports. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a report on Thursday, July 31st. Capital One Financial set a $22.50 target price on shares of Ares Capital in a research note on Friday, October 10th. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Finally, B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Insider Transactions at Ares Capital

In other Ares Capital news, CEO Michael Kort Schnabel bought 13,000 shares of the stock in a transaction on Friday, October 31st. The shares were purchased at an average cost 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 $570,920. This represents a 86.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

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.