Pasadena Private Wealth LLC Has $924,000 Stake in Ares Capital Corporation $ARCC

Pasadena Private Wealth LLC boosted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 70.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,084 shares of the investment management company’s stock after purchasing an additional 17,334 shares during the period. Pasadena Private Wealth LLC’s holdings in Ares Capital were worth $924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ARCC. Elequin Capital LP acquired a new stake in Ares Capital in the first quarter valued at $30,000. CNB Bank bought a new position in Ares Capital during the second quarter worth $36,000. Harbor Asset Planning Inc. bought a new position in Ares Capital during the second quarter worth $38,000. Wolff Wiese Magana LLC bought a new position in Ares Capital during the second quarter worth $40,000. Finally, Investment Management Corp VA ADV raised its stake in Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after buying an additional 1,206 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ARCC shares. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. UBS Group lowered 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 note on Tuesday, October 14th. Citigroup reissued an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Finally, Capital One Financial set a $22.50 target price on shares of Ares Capital in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.63.

Ares Capital Trading Up 0.7%

ARCC opened at $20.08 on Monday. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The company has a market cap of $14.16 billion, a P/E ratio of 9.80 and a beta of 0.68. The company has a fifty day moving average price of $21.07 and a two-hundred day moving average price of $21.55.

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

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is currently 93.66%.

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.