Western Wealth Management LLC Purchases 1,800 Shares of Ares Capital Co. (NASDAQ:ARCC)

Western Wealth Management LLC raised its position in Ares Capital Co. (NASDAQ:ARCC) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,072 shares of the investment management company’s stock after purchasing an additional 1,800 shares during the period. Western Wealth Management LLC’s holdings in Ares Capital were worth $773,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. raised its position in Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after buying an additional 475 shares during the last quarter. Nemes Rush Group LLC bought a new position in Ares Capital in the fourth quarter valued at $25,000. Valley National Advisers Inc. increased its stake in Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after buying an additional 1,096 shares during the last quarter. Pingora Partners LLC bought a new stake in Ares Capital during the 4th quarter worth about $30,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 931 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Up 0.5 %

Shares of ARCC opened at $20.84 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.63 and a current ratio of 1.40. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 7.14 and a beta of 1.01. Ares Capital Co. has a 52 week low of $18.55 and a 52 week high of $21.84. The stock has a fifty day moving average of $20.81 and a 200-day moving average of $20.68.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period in the prior year, the company posted $0.58 EPS. As a group, sell-side analysts anticipate that Ares Capital Co. will post 2.38 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.21%. The ex-dividend date is Friday, September 13th. Ares Capital’s payout ratio is presently 65.75%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JMP Securities boosted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Compass Point raised Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Truist Financial lifted their target price on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $21.71.

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.