Miracle Mile Advisors LLC Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Miracle Mile Advisors LLC lifted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 41.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,712 shares of the investment management company’s stock after buying an additional 5,171 shares during the period. Miracle Mile Advisors LLC’s holdings in Ares Capital were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JBR Co Financial Management Inc grew its holdings in Ares Capital by 1.5% in 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. Onyx Bridge Wealth Group LLC increased its position in Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after purchasing an additional 531 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Ares Capital by 3.9% in the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after purchasing an additional 542 shares during the last quarter. Western Financial Corp CA grew its stake in shares of Ares Capital by 2.3% in the 3rd quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company’s stock valued at $541,000 after buying an additional 579 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Ares Capital by 6.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock worth $227,000 after buying an additional 629 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Up 1.5 %

Shares of NASDAQ:ARCC opened at $23.00 on Friday. The firm’s 50-day moving average is $21.87 and its two-hundred day moving average is $21.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.02. The firm has a market capitalization of $14.86 billion, a PE ratio of 8.85 and a beta of 1.00.

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

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.35%. Ares Capital’s payout ratio is 73.85%.

Analyst Ratings Changes

ARCC has been the topic of a number of recent analyst reports. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. Finally, B. Riley boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital 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.