Sax Wealth Advisors LLC Acquires 1,076 Shares of Ares Capital Corporation $ARCC

Sax Wealth Advisors LLC raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 4.8% in the second quarter, HoldingsChannel.com reports. The firm owned 23,311 shares of the investment management company’s stock after purchasing an additional 1,076 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Ares Capital were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ARCC. Kingstone Capital Partners Texas LLC bought a new stake in Ares Capital in the 2nd quarter valued at about $877,203,000. HighTower Advisors LLC boosted its holdings in Ares Capital by 87.2% in the 1st quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock valued at $58,084,000 after purchasing an additional 1,220,570 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Ares Capital in the 1st quarter valued at about $14,766,000. CCLA Investment Management boosted its holdings in Ares Capital by 26.5% in the 1st quarter. CCLA Investment Management now owns 2,799,023 shares of the investment management company’s stock valued at $62,026,000 after purchasing an additional 587,068 shares during the period. Finally, SCS Capital Management LLC bought a new stake in Ares Capital in the 1st quarter valued at about $11,778,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

ARCC stock opened at $19.67 on Thursday. The company has a 50 day simple moving average of $21.75 and a 200 day simple moving average of $21.67. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 9.60 and a beta of 0.68. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $614.00 million for the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter in the prior year, the company earned $0.61 earnings per share. Research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio is currently 93.66%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARCC. Keefe, Bruyette & Woods boosted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Citigroup restated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. Finally, UBS Group boosted their target price on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

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.