Onyx Bridge Wealth Group LLC Boosts Stake in Ares Capital Co. (NASDAQ:ARCC)

Onyx Bridge Wealth Group LLC increased its stake in Ares Capital Co. (NASDAQ:ARCC) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 45,348 shares of the investment management company’s stock after buying an additional 1,739 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Ares Capital were worth $993,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Cyndeo Wealth Partners LLC lifted its holdings 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 purchasing an additional 430 shares during the last quarter. JBR Co Financial Management Inc lifted its stake in shares of Ares Capital by 1.5% during the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after buying an additional 500 shares in the last quarter. Western Financial Corp CA boosted its holdings in Ares Capital by 2.2% in the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after buying an additional 564 shares during the period. Koshinski Asset Management Inc. grew its stake in Ares Capital by 1.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after buying an additional 567 shares in the last quarter. Finally, Tyche Wealth Partners LLC lifted its position in shares of 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 acquiring an additional 578 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ARCC shares. B. Riley boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research note on Monday. 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.79.

Ares Capital Stock Down 3.0 %

ARCC opened at $23.10 on Thursday. The business’s fifty day simple moving average is $22.37 and its 200 day simple moving average is $21.51. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84. 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 stock has a market cap of $14.92 billion, a PE ratio of 8.88 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. As a group, research analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.31%. Ares Capital’s payout ratio is 73.85%.

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.