NewSquare Capital LLC Boosts Stock Position in Ares Capital Co. (NASDAQ:ARCC)

NewSquare Capital LLC boosted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,720 shares of the investment management company’s stock after purchasing an additional 1,846 shares during the period. NewSquare Capital LLC’s holdings in Ares Capital were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. National Bank of Canada FI grew its holdings in Ares Capital by 4.8% in the third quarter. National Bank of Canada FI now owns 66,849 shares of the investment management company’s stock worth $1,276,000 after purchasing an additional 3,090 shares during the period. Global Retirement Partners LLC increased its position in 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 buying an additional 744 shares in the last quarter. Meridian Wealth Management LLC raised its stake in Ares Capital by 2.8% during the third quarter. Meridian Wealth Management LLC now owns 155,639 shares of the investment management company’s stock valued at $3,030,000 after buying an additional 4,251 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in Ares Capital in the third quarter worth $2,920,000. Finally, Roman Butler Fullerton & Co. grew its stake in shares of Ares Capital by 4.2% in the third quarter. Roman Butler Fullerton & Co. now owns 24,055 shares of the investment management company’s stock worth $458,000 after acquiring an additional 966 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ares Capital Stock Performance

NASDAQ:ARCC traded down $0.04 on Wednesday, hitting $20.70. The stock had a trading volume of 1,243,450 shares, compared to its average volume of 3,562,139. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 7.77 and a beta of 1.00. The business’s 50-day simple moving average is $20.33 and its two-hundred day simple moving average is $19.99. Ares Capital Co. has a 52-week low of $17.53 and a 52-week high of $20.86.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, beating 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 business had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $669.78 million. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts predict that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date was Thursday, March 14th. Ares Capital’s payout ratio is 71.91%.

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.