Millennium Capital Advisors LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC – Free Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 32,455 shares of the investment management company’s stock, valued at approximately $657,000.
Several other large investors have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Ares Capital by 1,613.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 229,554 shares of the investment management company’s stock valued at $4,644,000 after acquiring an additional 216,154 shares in the last quarter. Left Brain Wealth Management LLC boosted its holdings in Ares Capital by 6.5% in the fourth quarter. Left Brain Wealth Management LLC now owns 31,834 shares of the investment management company’s stock valued at $644,000 after acquiring an additional 1,944 shares in the last quarter. PCG Wealth Advisors LLC boosted its holdings in Ares Capital by 4.7% in the fourth quarter. PCG Wealth Advisors LLC now owns 20,193 shares of the investment management company’s stock valued at $408,000 after acquiring an additional 911 shares in the last quarter. Western Wealth Management LLC boosted its holdings in Ares Capital by 1.1% in the fourth quarter. Western Wealth Management LLC now owns 66,759 shares of the investment management company’s stock valued at $1,351,000 after acquiring an additional 702 shares in the last quarter. Finally, Rayburn West Financial Services LLC bought a new stake in Ares Capital in the fourth quarter valued at $312,000. Institutional investors own 27.38% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on ARCC. UBS Group lowered their price objective on Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. B. Riley Financial dropped their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Citizens Jmp dropped their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Royal Bank Of Canada dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Finally, Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.
Ares Capital Stock Performance
Shares of Ares Capital stock opened at $18.90 on Friday. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 11.60 and a beta of 0.58. The firm’s 50-day moving average is $18.48 and its 200 day moving average is $19.55. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.
Ares Capital (NASDAQ:ARCC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.
Ares Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.48 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.2%. Ares Capital’s payout ratio is currently 117.79%.
Ares Capital Company Profile
Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.
Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.
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