Balboa Wealth Partners Raises Holdings in Ares Capital Co. (NASDAQ:ARCC)

Balboa Wealth Partners boosted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 31.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,069 shares of the investment management company’s stock after acquiring an additional 12,071 shares during the quarter. Balboa Wealth Partners’ holdings in Ares Capital were worth $1,048,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Jamison Private Wealth Management Inc. boosted its stake in Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Ares Capital during the second quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in Ares Capital in the 2nd quarter valued at about $32,000. nVerses Capital LLC boosted its holdings in Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 800 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Ares Capital in the 2nd quarter valued at about $42,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.2 %

ARCC stock opened at $21.58 on Friday. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.05. The stock has a market capitalization of $13.94 billion, a PE ratio of 8.30 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The company has a fifty day moving average of $21.07 and a 200-day moving average of $20.99.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, analysts expect that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.90%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is 73.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ARCC shares. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. B. Riley increased their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

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.