Kingswood Wealth Advisors LLC Purchases 15,453 Shares of Ares Capital Co. (NASDAQ:ARCC)

Kingswood Wealth Advisors LLC increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 94.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,883 shares of the investment management company's stock after purchasing an additional 15,453 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Ares Capital were worth $698,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARCC. Horizon Financial Services LLC bought a new stake in Ares Capital in the third quarter worth approximately $28,000. Blue Trust Inc. increased its position in Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after buying an additional 909 shares during the last quarter. Quarry LP bought a new position in Ares Capital during the third quarter valued at about $67,000. Centennial Bank AR acquired a new stake in shares of Ares Capital in the third quarter worth about $102,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Ares Capital by 19.6% during the 4th quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company's stock worth $107,000 after acquiring an additional 803 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Trading Up 1.1 %

Shares of ARCC traded up $0.25 during trading hours on Thursday, reaching $23.43. The stock had a trading volume of 1,786,564 shares, compared to its average volume of 3,950,141. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.56. 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 company has a market cap of $15.13 billion, a P/E ratio of 9.01 and a beta of 1.00. The firm has a 50-day moving average of $22.21 and a 200 day moving average of $21.41.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. B. Riley upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Wells Fargo & Company raised their price target on Ares Capital from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ares Capital currently has an average rating of "Moderate Buy" and an average target price of $22.43.

About Ares Capital

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.