Apollon Wealth Management LLC Increases Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Apollon Wealth Management LLC lifted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,291 shares of the investment management company's stock after acquiring an additional 25,377 shares during the period. Apollon Wealth Management LLC's holdings in Ares Capital were worth $2,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Ares Capital by 8.3% in the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company's stock valued at $272,107,000 after acquiring an additional 975,045 shares during the last quarter. Confluence Investment Management LLC increased its holdings in Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock worth $80,338,000 after acquiring an additional 63,999 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company's stock worth $756,620,000 after buying an additional 3,449,395 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company's stock worth $72,778,000 after buying an additional 273,025 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of Ares Capital by 3.7% in the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company's stock worth $46,430,000 after buying an additional 79,074 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Trading Up 0.2 %

Shares of NASDAQ:ARCC traded up $0.04 on Thursday, hitting $21.58. The company had a trading volume of 3,689,810 shares, compared to its average volume of 3,386,901. The firm's 50-day simple moving average is $21.07 and its two-hundred day simple moving average is $20.99. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.05. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 8.30 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. Equities analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.90%. Ares Capital's dividend payout ratio is currently 73.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARCC shares. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 30th. StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday. B. Riley upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. UBS Group raised shares of Ares Capital to a "hold" rating in a research note on Friday, August 23rd. Finally, Compass Point raised shares of Ares Capital to a "strong-buy" rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ares Capital currently has an average rating of "Moderate Buy" and a consensus target price of $21.86.

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.