Wealthcare Advisory Partners LLC Boosts Stock Position in Ares Capital Corporation $ARCC

Wealthcare Advisory Partners LLC boosted its position in Ares Capital Corporation (NASDAQ:ARCC) by 48.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,218 shares of the investment management company’s stock after purchasing an additional 57,975 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Ares Capital were worth $3,914,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Elequin Capital LP purchased a new stake in Ares Capital during the first quarter valued at approximately $30,000. Continuum Advisory LLC grew its holdings in Ares Capital by 320.7% in the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,241 shares during the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Ares Capital during the second quarter worth $40,000. Investment Management Corp VA ADV lifted its holdings in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,206 shares during the last quarter. Finally, PSI Advisors LLC boosted its position in shares of Ares Capital by 121.1% in the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after purchasing an additional 1,150 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ARCC. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. dropped their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Wells Fargo & Company upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ares Capital in a research report on Saturday, September 27th. Finally, Citigroup reissued an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.86.

Ares Capital Stock Down 1.2%

Ares Capital stock opened at $20.15 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $14.21 billion, a PE ratio of 9.83 and a beta of 0.68. The business has a 50 day simple moving average of $21.91 and a 200-day simple moving average of $21.71. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same period in the prior year, the business posted $0.61 EPS. On average, analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 9.5%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio is 93.66%.

About Ares Capital

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.