Mallini Complete Financial Planning LLC Invests $790,000 in Ares Capital Co. (NASDAQ:ARCC)

Mallini Complete Financial Planning LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,072 shares of the investment management company's stock, valued at approximately $790,000. Ares Capital makes up about 0.7% of Mallini Complete Financial Planning LLC's holdings, making the stock its 11th biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Cyndeo Wealth Partners LLC lifted its stake in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock valued at $419,000 after buying an additional 430 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Ares Capital by 0.9% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock worth $1,230,000 after purchasing an additional 512 shares in the last quarter. Western Financial Corp CA lifted its position in shares of Ares Capital by 2.2% in the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock worth $578,000 after purchasing an additional 564 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Ares Capital by 1.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company's stock worth $812,000 after purchasing an additional 567 shares in the last quarter. Finally, Tyche Wealth Partners LLC lifted its position in shares of Ares Capital by 3.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company's stock worth $360,000 after purchasing an additional 578 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARCC shares. Royal Bank of Canada increased their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.94.

Ares Capital Stock Performance

ARCC stock traded down $0.07 during midday trading on Wednesday, hitting $21.75. 3,755,944 shares of the company traded hands, compared to its average volume of 3,692,590. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The business has a 50 day simple moving average of $22.87 and a 200-day simple moving average of $21.92. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 8.88 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 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%. As a group, equities research analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 8.83%. Ares Capital's payout ratio is 78.37%.

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.