Onyx Bridge Wealth Group LLC Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Onyx Bridge Wealth Group LLC lifted its stake in Ares Capital Co. (NASDAQ:ARCC) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,777 shares of the investment management company’s stock after acquiring an additional 980 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Ares Capital were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Richard P Slaughter Associates Inc purchased a new stake in Ares Capital during the fourth quarter valued at approximately $1,431,000. NewEdge Wealth LLC bought a new stake in Ares Capital during the fourth quarter valued at about $1,497,000. D.B. Root & Company LLC bought a new position in shares of Ares Capital during the 3rd quarter valued at approximately $1,260,000. Anchor Investment Management LLC bought a new stake in Ares Capital during the 4th quarter worth approximately $123,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Ares Capital by 29.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 241,231 shares of the investment management company’s stock worth $4,697,000 after purchasing an additional 55,386 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARCC has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price 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. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a report on Tuesday, March 26th. Finally, B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a report on Monday, January 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.80.

Ares Capital Price Performance

Ares Capital stock traded up $0.17 during midday trading on Friday, reaching $20.59. 2,427,273 shares of the stock traded hands, compared to its average volume of 3,623,678. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12 month low of $17.53 and a 12 month high of $20.86. The stock’s fifty day moving average is $20.31 and its 200-day moving average is $19.95. The stock has a market cap of $12.49 billion, a P/E ratio of 7.71 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The company had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $669.78 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. Ares Capital’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date of this dividend was Thursday, March 14th. Ares Capital’s payout ratio is 71.91%.

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.