GoalVest Advisory LLC Buys 1,425 Shares of Ares Capital Corporation $ARCC

GoalVest Advisory LLC grew its stake in Ares Capital Corporation (NASDAQ:ARCC) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,015 shares of the investment management company’s stock after acquiring an additional 1,425 shares during the quarter. GoalVest Advisory LLC’s holdings in Ares Capital were worth $1,538,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in Ares Capital in the first quarter worth $30,000. CNB Bank purchased a new position in shares of Ares Capital in the second quarter worth $36,000. Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital in the second quarter worth $38,000. Wolff Wiese Magana LLC purchased a new position in shares of Ares Capital in the second quarter worth $40,000. Finally, Investment Management Corp VA ADV raised 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 worth $41,000 after purchasing an additional 1,206 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Up 0.7%

Shares of ARCC stock opened at $20.08 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 company has a market cap of $14.16 billion, a price-to-earnings ratio of 9.80 and a beta of 0.68. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The firm has a fifty day moving average price of $21.07 and a 200-day moving average price of $21.55.

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

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is currently 93.66%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ARCC shares. Wells Fargo & Company boosted their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Capital One Financial set a $22.50 price target on Ares Capital in a research note on Friday, October 10th. JMP Securities set a $23.00 price target on Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ares Capital in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and a consensus price target of $22.63.

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.