Ares Capital Co. (NASDAQ:ARCC) Shares Bought by BKM Wealth Management LLC

BKM Wealth Management LLC boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,261 shares of the investment management company’s stock after acquiring an additional 2,096 shares during the period. BKM Wealth Management LLC’s holdings in Ares Capital were worth $817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in Ares Capital in the 4th quarter valued at $25,000. Pingora Partners LLC purchased a new stake in Ares Capital in the 4th quarter valued at $30,000. First Horizon Advisors Inc. raised its position in Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 931 shares during the last quarter. Assetmark Inc. raised its position in Ares Capital by 218.7% during the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after buying an additional 1,345 shares during the last quarter. Finally, Activest Wealth Management raised its position in Ares Capital by 137.2% during the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after buying an additional 1,239 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARCC. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research note on Thursday, May 23rd. Truist Financial upped their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a research note on Tuesday, March 26th. Finally, Oppenheimer upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Ares Capital Price Performance

NASDAQ ARCC traded down $0.11 during trading hours on Monday, reaching $20.73. The company’s stock had a trading volume of 1,406,651 shares, compared to its average volume of 3,553,419. The stock has a market cap of $12.74 billion, a PE ratio of 7.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. The company’s 50-day moving average is $21.03 and its two-hundred day moving average is $20.51. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $703.85 million. Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. Ares Capital’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. Analysts forecast that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.26%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

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.