PDS Planning Inc Has $437,000 Stock Holdings in Ares Capital Corporation $ARCC

PDS Planning Inc grew its stake in Ares Capital Corporation (NASDAQ:ARCC) by 23.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,896 shares of the investment management company’s stock after buying an additional 3,730 shares during the period. PDS Planning Inc’s holdings in Ares Capital were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elequin Capital LP acquired a new stake in shares of Ares Capital in the first quarter valued at about $30,000. Continuum Advisory LLC increased its stake in shares of Ares Capital by 320.7% in the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after buying an additional 1,241 shares during the period. Wolff Wiese Magana LLC acquired a new stake in shares of Ares Capital in the second quarter valued at about $40,000. Investment Management Corp VA ADV increased its stake in shares of Ares Capital by 193.9% in the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after buying an additional 1,206 shares during the period. Finally, PSI Advisors LLC grew its stake in Ares Capital by 121.1% during the first 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 during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Down 1.0%

Shares of NASDAQ:ARCC opened at $18.90 on Friday. The business’s 50 day simple moving average is $21.61 and its two-hundred day simple moving average is $21.62. The firm has a market cap of $13.33 billion, a P/E ratio of 9.22 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84.

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

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.48 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.92 annualized dividend and a yield of 10.2%. Ares Capital’s dividend payout ratio is presently 93.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods raised their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. UBS Group raised their target price on Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Finally, JMP Securities set a $23.00 target price on Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price 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.