Cyndeo Wealth Partners LLC Sells 5,997 Shares of Ares Capital Corporation $ARCC

Cyndeo Wealth Partners LLC reduced its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 32.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,683 shares of the investment management company’s stock after selling 5,997 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ares Capital were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ARCC. Kingstone Capital Partners Texas LLC bought a new stake in shares of Ares Capital in the second quarter valued at $877,203,000. Confluence Investment Management LLC raised its stake in shares of Ares Capital by 0.6% in the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after buying an additional 21,344 shares during the period. Advisors Capital Management LLC raised its stake in shares of Ares Capital by 3.0% in the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock valued at $80,396,000 after buying an additional 104,339 shares during the period. LPL Financial LLC raised its stake in shares of Ares Capital by 9.0% in the first quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock valued at $79,063,000 after buying an additional 293,442 shares during the period. Finally, Allen Investment Management LLC raised its stake in shares of Ares Capital by 8.4% in the first quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock valued at $65,930,000 after buying an additional 230,924 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Ares Capital stock opened at $18.90 on Friday. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The business has a 50-day simple moving average of $21.61 and a 200 day simple moving average of $21.62. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 9.22 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The business had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, research analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced 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 yield of 10.2%. The ex-dividend date was Monday, September 15th. Ares Capital’s payout ratio is presently 93.66%.

Analysts Set New Price Targets

Several analysts have issued reports on ARCC shares. B. Riley upgraded 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 note on Wednesday, July 30th. UBS Group boosted their target price on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Capital One Financial set a $22.50 price target on Ares Capital in a research report on Friday. Finally, Wells Fargo & Company lifted their price target on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.81.

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.