16,215 Shares in Ares Capital Co. (NASDAQ:ARCC) Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC bought a new position in Ares Capital Co. (NASDAQ:ARCCFree Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,215 shares of the investment management company’s stock, valued at approximately $331,000.

Several other hedge funds also recently bought and sold shares of ARCC. Nemes Rush Group LLC acquired a new position in Ares Capital in the 4th quarter worth about $25,000. Valley National Advisers Inc. increased its holdings in shares of Ares Capital by 323.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 1,096 shares during the last quarter. Pingora Partners LLC acquired a new position in shares of Ares Capital during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in shares of Ares Capital by 93.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 931 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Ares Capital by 218.7% during the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock valued at $39,000 after acquiring an additional 1,345 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARCC. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a report on Thursday, May 23rd. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. Truist Financial increased their target price on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Oppenheimer raised their price objective on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

View Our Latest Research Report on Ares Capital

Ares Capital Trading Up 0.7 %

ARCC stock opened at $21.10 on Friday. The business has a fifty day moving average price of $21.05 and a 200 day moving average price of $20.55. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 7.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63.

Ares Capital (NASDAQ:ARCCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business had revenue of $701.00 million for the quarter, compared to analyst estimates of $703.85 million. During the same period in the prior year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.10%. Ares Capital’s dividend payout ratio (DPR) is currently 65.75%.

About Ares Capital

(Free Report)

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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