CWA Asset Management Group LLC Acquires Shares of 10,659 Ares Capital Co. (NASDAQ:ARCC)

CWA Asset Management Group LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,659 shares of the investment management company’s stock, valued at approximately $223,000.

Other institutional investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. raised its position in Ares Capital by 62.7% during 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 purchasing an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new position in Ares Capital during the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Ares Capital during the second quarter valued at approximately $32,000. nVerses Capital LLC raised its position in Ares Capital by 88.9% during the second 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Ares Capital during the second quarter worth $42,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $21.53 on Wednesday. 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 $13.91 billion, a price-to-earnings ratio of 8.28 and a beta of 1.01. The company’s fifty day moving average is $21.05 and its 200 day moving average is $20.99. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $22.05.

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

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.92%. Ares Capital’s dividend payout ratio (DPR) is currently 73.85%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ARCC shares. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a report on Monday, August 5th. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. JMP Securities upped their price target 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 upped their price target 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. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Four equities research 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 MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

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.