WealthPlan Investment Management LLC Purchases 19,698 Shares of Ares Capital Corporation $ARCC

WealthPlan Investment Management LLC increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 46.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,276 shares of the investment management company’s stock after purchasing an additional 19,698 shares during the period. WealthPlan Investment Management LLC’s holdings in Ares Capital were worth $1,368,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in Ares Capital in the 2nd quarter worth $877,203,000. Confluence Investment Management LLC boosted 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 worth $83,378,000 after acquiring an additional 21,344 shares during the period. Advisors Capital Management LLC grew its position in shares of Ares Capital by 3.0% during the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock worth $80,396,000 after purchasing an additional 104,339 shares in the last quarter. LPL Financial LLC raised its stake in Ares Capital by 9.0% during the 1st quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock valued at $79,063,000 after purchasing an additional 293,442 shares during the period. Finally, Allen Investment Management LLC lifted its holdings in Ares Capital by 8.4% in the 1st quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock worth $65,930,000 after purchasing an additional 230,924 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Wells Fargo & Company upped their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock 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. Finally, UBS Group dropped their target price on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.63.

Ares Capital Price Performance

Ares Capital stock opened at $19.53 on Friday. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 9.53 and a beta of 0.68. The firm’s fifty day moving average is $21.39 and its 200 day moving average is $21.56. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week 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 business had revenue of $614.00 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.61 EPS. Sell-side analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

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

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.