Cyndeo Wealth Partners LLC Grows Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Cyndeo Wealth Partners LLC grew its position in Ares Capital Co. (NASDAQ:ARCC) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,148 shares of the investment management company’s stock after acquiring an additional 430 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ares Capital were worth $419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ARCC. Horizon Financial Services LLC purchased a new position in shares of Ares Capital in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its position in shares of Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after acquiring an additional 909 shares in the last quarter. Quarry LP purchased a new position in shares of Ares Capital in the third quarter valued at approximately $67,000. Centennial Bank AR acquired a new stake in shares of Ares Capital in the third quarter valued at approximately $102,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Ares Capital by 19.6% in the fourth quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock valued at $107,000 after purchasing an additional 803 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the subject of several recent research reports. Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, B. Riley increased their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and a consensus price target of $22.29.

Ares Capital Trading Up 0.2 %

Shares of NASDAQ ARCC opened at $23.43 on Friday. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.53. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $22.12 and a 200-day simple moving average of $21.37. The stock has a market capitalization of $15.14 billion, a PE ratio of 9.01 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.48 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.19%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

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.