Magnus Financial Group LLC Buys 664 Shares of Ares Capital Co. (NASDAQ:ARCC)

Magnus Financial Group LLC raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 31,319 shares of the investment management company’s stock after acquiring an additional 664 shares during the quarter. Magnus Financial Group LLC’s holdings in Ares Capital were worth $694,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Montag & Caldwell LLC bought a new stake in Ares Capital in the 4th quarter valued at $33,000. VSM Wealth Advisory LLC acquired a new stake in shares of Ares Capital during the 4th quarter valued at about $35,000. Promus Capital LLC bought a new stake in Ares Capital in the fourth quarter valued at about $48,000. SRS Capital Advisors Inc. bought a new position in Ares Capital during the fourth quarter worth about $60,000. Finally, Montag A & Associates Inc. lifted its stake in Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of ARCC stock opened at $22.19 on Friday. Ares Capital Co. has a 52 week low of $18.26 and a 52 week high of $23.84. The stock has a market capitalization of $15.40 billion, a PE ratio of 9.06 and a beta of 0.68. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s fifty day moving average is $21.03 and its 200-day moving average is $21.94.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $599.00 million for the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. Equities research analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.65%. Ares Capital’s dividend payout ratio (DPR) is currently 93.66%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARCC. Wells Fargo & Company dropped their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Royal Bank of Canada dropped their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Ares Capital from $24.50 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group cut their price target on shares of Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.