Mission Wealth Management LP Makes New $208,000 Investment in Ares Capital Co. (NASDAQ:ARCC)

Mission Wealth Management LP purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,401 shares of the investment management company’s stock, valued at approximately $208,000.

Several other large investors have also recently made changes to their positions in ARCC. Cape Investment Advisory Inc. boosted its stake in shares of Ares Capital by 411.0% during the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 1,570 shares during the period. Activest Wealth Management boosted its position in Ares Capital by 137.2% during the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after buying an additional 1,239 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Ares Capital by 59.3% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,351 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 875 shares during the period. CVA Family Office LLC bought a new position in shares of Ares Capital during the fourth quarter valued at about $51,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Ares Capital during the fourth quarter worth about $54,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARCC. JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a report on Tuesday, March 26th. B. Riley downgraded Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Monday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company upped their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, Truist Financial raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.43.

Ares Capital Stock Performance

Shares of ARCC stock opened at $20.61 on Friday. The company’s fifty day moving average price is $20.42 and its 200-day moving average price is $20.06. The stock has a market cap of $12.53 billion, a PE ratio of 7.06 and a beta of 0.99. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Ares Capital Co. has a 12 month low of $17.53 and a 12 month high of $21.00.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. On average, equities analysts expect that Ares Capital Co. will post 2.35 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.32%. The ex-dividend date is Thursday, June 13th. Ares Capital’s dividend payout ratio is presently 65.75%.

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.