Mycio Wealth Partners LLC Invests $471,000 in Ares Capital Co. (NASDAQ:ARCC)

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Mycio Wealth Partners LLC acquired a new position in Ares Capital Co. (NASDAQ:ARCC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,250 shares of the investment management company’s stock, valued at approximately $471,000.

Several other institutional investors have also recently modified their holdings of ARCC. Sound Income Strategies LLC grew its position in Ares Capital by 31.0% during the 2nd quarter. Sound Income Strategies LLC now owns 1,293,009 shares of the investment management company’s stock worth $23,197,000 after purchasing an additional 306,185 shares during the last quarter. Clearbridge Investments LLC grew its position in Ares Capital by 5.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,160,759 shares of the investment management company’s stock worth $19,895,000 after purchasing an additional 57,250 shares during the last quarter. LSV Asset Management grew its position in Ares Capital by 57.2% during the 1st quarter. LSV Asset Management now owns 1,071,765 shares of the investment management company’s stock worth $18,370,000 after purchasing an additional 390,100 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its position in Ares Capital by 4.9% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 713,365 shares of the investment management company’s stock worth $12,227,000 after purchasing an additional 33,148 shares during the last quarter. Finally, Avalon Advisors LLC grew its position in Ares Capital by 6.3% during the 1st quarter. Avalon Advisors LLC now owns 617,682 shares of the investment management company’s stock worth $10,587,000 after purchasing an additional 36,641 shares during the last quarter. 36.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ARCC stock traded down $0.01 during trading hours on Thursday, hitting $18.90. The company’s stock had a trading volume of 10,717 shares, compared to its average volume of 1,793,772. The company has a 50 day moving average of $18.33 and a 200 day moving average of $17.68. The stock has a market cap of $8.09 billion, a PE ratio of 11.28 and a beta of 0.61. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.82. Ares Capital Co. has a 12-month low of $14.50 and a 12-month high of $19.02.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $382.00 million for the quarter, compared to the consensus estimate of $363.60 million. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, analysts anticipate that Ares Capital Co. will post 1.85 earnings per share for the current fiscal year.

In other news, CFO Penelope F. Roll bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $18.36 per share, for a total transaction of $36,720.00. Following the purchase, the chief financial officer now directly owns 11,147 shares in the company, valued at approximately $204,658.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel G. Kelly, Jr. bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $18.44 per share, with a total value of $110,640.00. The disclosure for this purchase can be found here. Insiders bought a total of 18,125 shares of company stock worth $331,934 over the last ninety days. Insiders own 0.53% of the company’s stock.

Several analysts have weighed in on the stock. BidaskClub raised shares of Ares Capital from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Wedbush set a $20.00 target price on shares of Ares Capital and gave the stock a “buy” rating in a research report on Tuesday, May 14th. National Securities reissued a “buy” rating and set a $20.00 target price on shares of Ares Capital in a research report on Wednesday, May 1st. Raymond James boosted their target price on shares of Ares Capital from $19.00 to $19.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised shares of Ares Capital from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $20.00 in a research report on Monday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $19.38.

Ares Capital 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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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