PDS Planning Inc Invests $287,000 in Ares Capital Co. (NASDAQ:ARCC)

PDS Planning Inc purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,103 shares of the investment management company’s stock, valued at approximately $287,000.

Other large investors have also made changes to their positions in the company. Cyndeo Wealth Partners LLC grew its position in Ares Capital by 2.3% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock worth $419,000 after purchasing an additional 430 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in Ares Capital by 0.9% during the 4th 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 during the period. Western Financial Corp CA grew its position in Ares Capital by 2.2% during the 4th 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. grew its position in Ares Capital by 1.6% during the 4th 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 during the period. Finally, Tyche Wealth Partners LLC grew its position in Ares Capital by 3.6% during the 4th 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 during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several analyst reports. Raymond James downgraded Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Wells Fargo & Company cut 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. Keefe, Bruyette & Woods increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, 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, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $22.94.

Ares Capital Trading Up 0.8 %

Shares of Ares Capital stock opened at $21.82 on Wednesday. The firm has a market capitalization of $14.87 billion, a PE ratio of 8.91 and a beta of 1.00. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The firm’s 50-day moving average price is $22.87 and its 200 day moving average price is $21.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results 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 50.90% and a return on equity of 11.54%. On average, sell-side analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 78.37%.

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.