Ares Capital Corporation $ARCC Shares Bought by Wealth Quarterback LLC

Wealth Quarterback LLC lifted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 40.8% during the second quarter, Holdings Channel reports. The fund owned 15,071 shares of the investment management company’s stock after purchasing an additional 4,365 shares during the quarter. Wealth Quarterback LLC’s holdings in Ares Capital were worth $331,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a report on Thursday, October 30th. JMP Securities set a $23.00 price objective on Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company lowered their target price on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Royal Bank Of Canada reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Insiders Place Their Bets

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

Ares Capital Trading Up 0.1%

Ares Capital stock opened at $20.31 on Wednesday. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The company has a quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 10.16 and a beta of 0.68. The firm has a 50-day moving average price of $20.59 and a two-hundred day moving average price of $21.55.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $766.48 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend yield of 9.5%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s payout ratio is currently 96.00%.

About Ares Capital

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.