Melia Wealth LLC bought a new stake in Ares Capital Corporation (NASDAQ:ARCC – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 460,440 shares of the investment management company’s stock, valued at approximately $8,532,000. Ares Capital comprises 4.9% of Melia Wealth LLC’s holdings, making the stock its 10th biggest holding. Melia Wealth LLC owned approximately 0.06% of Ares Capital as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of ARCC. Palladiem LLC acquired a new stake in shares of Ares Capital in the 4th quarter worth about $26,000. SWAN Capital LLC acquired a new stake in shares of Ares Capital in the third quarter valued at approximately $27,000. Sankala Group LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC acquired a new position in shares of Ares Capital during the fourth quarter worth approximately $33,000. Finally, Quarry LP bought a new position in Ares Capital in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 27.38% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on ARCC shares. Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. JPMorgan Chase & Co. lowered their price target on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.
Ares Capital Trading Down 0.1%
Shares of Ares Capital stock opened at $19.88 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 14.73 and a beta of 0.56. The business has a fifty day simple moving average of $19.06 and a 200-day simple moving average of $18.83. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $22.51.
Ares Capital (NASDAQ:ARCC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. During the same period in the prior year, the company earned $0.50 EPS. On average, equities analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.
Ares Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.7%. Ares Capital’s dividend payout ratio is currently 142.22%.
About Ares Capital
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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