Melia Wealth LLC Purchases 17,771 Shares of Ares Capital Co. (NASDAQ:ARCC)

Melia Wealth LLC raised its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 747,044 shares of the investment management company's stock after buying an additional 17,771 shares during the period. Ares Capital accounts for about 8.5% of Melia Wealth LLC's portfolio, making the stock its 2nd largest holding. Melia Wealth LLC owned about 0.11% of Ares Capital worth $16,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in Ares Capital by 10.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,782,203 shares of the investment management company's stock valued at $39,012,000 after buying an additional 165,844 shares in the last quarter. Heritage Trust Co bought a new stake in Ares Capital during the 4th quarter worth approximately $442,000. Jaffetilchin Investment Partners LLC boosted its stake in shares of Ares Capital by 194.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 89,599 shares of the investment management company's stock worth $1,961,000 after buying an additional 59,172 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Ares Capital by 13.9% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 154,734 shares of the investment management company's stock valued at $3,387,000 after acquiring an additional 18,852 shares during the period. Finally, Argent Trust Co lifted its holdings in Ares Capital by 1.0% during the fourth quarter. Argent Trust Co now owns 120,981 shares of the investment management company's stock valued at $2,648,000 after purchasing an additional 1,165 shares during the last quarter. Institutional investors own 27.38% of the company's stock.

Ares Capital Stock Performance

NASDAQ:ARCC traded up $0.22 during midday trading on Wednesday, hitting $20.39. The company's stock had a trading volume of 1,548,835 shares, compared to its average volume of 4,018,815. The firm's 50 day moving average is $22.00 and its 200-day moving average is $21.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $13.96 billion, a P/E ratio of 8.32 and a beta of 0.77. Ares Capital Co. has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Equities analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.42%. Ares Capital's payout ratio is 78.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ARCC shares. Royal Bank of Canada upped their target price on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ares Capital presently has a consensus rating of "Moderate Buy" and an average price target of $22.81.

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.