11,000 Shares in Ares Capital Co. (NASDAQ:ARCC) Purchased by Forthright Family Wealth Advisory LLC

Forthright Family Wealth Advisory LLC purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCCFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,000 shares of the investment management company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Syon Capital LLC acquired a new position in Ares Capital during the fourth quarter worth about $568,000. Chicago Partners Investment Group LLC boosted its position in Ares Capital by 5.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock worth $7,913,000 after acquiring an additional 20,202 shares during the last quarter. Palogic Value Management L.P. boosted its holdings in Ares Capital by 0.7% in the 4th quarter. Palogic Value Management L.P. now owns 95,331 shares of the investment management company’s stock valued at $1,909,000 after purchasing an additional 631 shares during the last quarter. MGO One Seven LLC boosted its holdings in Ares Capital by 1,960.9% in the 4th quarter. MGO One Seven LLC now owns 286,408 shares of the investment management company’s stock valued at $5,737,000 after purchasing an additional 272,511 shares during the last quarter. Finally, Evercore Wealth Management LLC acquired a new position in Ares Capital in the 4th quarter valued at about $5,279,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARCC. Oppenheimer boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Thursday, May 23rd. Finally, Truist Financial upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Check Out Our Latest Analysis on ARCC

Ares Capital Trading Down 0.5 %

Shares of ARCC stock traded down $0.11 during trading hours on Friday, hitting $20.68. The company had a trading volume of 5,280,195 shares, compared to its average volume of 3,307,635. Ares Capital Co. has a fifty-two week low of $18.00 and a fifty-two week high of $21.84. The company’s fifty day moving average is $20.98 and its 200 day moving average is $20.46. The stock has a market capitalization of $12.71 billion, a PE ratio of 7.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63.

Ares Capital (NASDAQ:ARCCGet Free Report) last announced its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The business had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. During the same period in the previous year, the company earned $0.56 earnings per share. Ares Capital’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts expect that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.28%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s payout ratio is currently 65.75%.

Ares Capital Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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