WealthPlan Investment Management LLC reduced its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,769 shares of the investment management company's stock after selling 12,593 shares during the quarter. WealthPlan Investment Management LLC's holdings in Ares Capital were worth $892,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cyndeo Wealth Partners LLC lifted its holdings in shares of 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 acquiring an additional 430 shares during the period. Onyx Bridge Wealth Group LLC increased its position in Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company's stock worth $913,000 after purchasing an additional 531 shares during the period. Western Financial Corp CA increased its position in 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 during the period. Koshinski Asset Management Inc. boosted its holdings in Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company's stock worth $812,000 after buying an additional 567 shares during the last quarter. Finally, Tyche Wealth Partners LLC boosted its holdings in Ares Capital by 3.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company's stock worth $360,000 after buying an additional 578 shares during the last quarter. 27.38% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ARCC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company lowered their price target on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada boosted their price target on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. B. Riley boosted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ares Capital presently has an average rating of "Moderate Buy" and an average price target of $22.94.
Read Our Latest Report on ARCC
Ares Capital Price Performance
Shares of ARCC stock traded up $0.12 on Wednesday, hitting $23.47. 3,539,649 shares of the company's stock were exchanged, compared to its average volume of 4,468,763. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84. The stock has a market cap of $15.76 billion, a P/E ratio of 9.58 and a beta of 1.01. The company has a 50 day moving average of $22.55 and a 200 day moving average of $21.66.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. On average, equities research analysts predict that Ares Capital Co. will post 2.19 EPS for the current year.
Ares Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.18%. Ares Capital's dividend payout ratio is currently 78.37%.
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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