12,124 Shares in Ares Capital Co. (NASDAQ:ARCC) Purchased by Significant Wealth Partners LLC

Significant Wealth Partners LLC bought a new position in Ares Capital Co. (NASDAQ:ARCC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 12,124 shares of the investment management company’s stock, valued at approximately $243,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI grew its stake in Ares Capital by 4.8% during the third quarter. National Bank of Canada FI now owns 66,849 shares of the investment management company’s stock valued at $1,276,000 after acquiring an additional 3,090 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Ares Capital by 5.6% during the 3rd quarter. Global Retirement Partners LLC now owns 13,978 shares of the investment management company’s stock valued at $262,000 after purchasing an additional 744 shares in the last quarter. Riverbridge Partners LLC increased its holdings in shares of Ares Capital by 13.3% in the third quarter. Riverbridge Partners LLC now owns 46,216 shares of the investment management company’s stock worth $900,000 after purchasing an additional 5,442 shares during the period. Xcel Wealth Management LLC purchased a new stake in shares of Ares Capital in the third quarter worth $198,000. Finally, Perennial Advisors LLC grew its position in Ares Capital by 1.9% during the third quarter. Perennial Advisors LLC now owns 177,871 shares of the investment management company’s stock worth $3,463,000 after buying an additional 3,343 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on ARCC shares. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. B. Riley cut shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Monday, January 8th. Finally, Wells Fargo & Company raised their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Ares Capital has an average rating of “Hold” and an average price target of $20.80.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $20.66 on Tuesday. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 7.74 and a beta of 1.00. The business has a 50 day moving average of $20.32 and a 200 day moving average of $19.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24. Ares Capital Co. has a 1-year low of $17.53 and a 1-year high of $20.86.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, February 7th. The investment management company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The firm had revenue of $707.00 million during the quarter, compared to analyst estimates of $669.78 million. During the same period in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts predict that Ares Capital Co. will post 2.35 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.29%. Ares Capital’s payout ratio is 71.91%.

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.