Bogart Wealth LLC Increases Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Bogart Wealth LLC lifted its stake in Ares Capital Co. (NASDAQ:ARCC) by 451.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,434 shares of the investment management company’s stock after purchasing an additional 1,993 shares during the quarter. Bogart Wealth LLC’s holdings in Ares Capital were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARCC. Apollon Wealth Management LLC grew its position in shares of Ares Capital by 3.5% during the 4th quarter. Apollon Wealth Management LLC now owns 72,159 shares of the investment management company’s stock worth $1,445,000 after buying an additional 2,452 shares in the last quarter. Lincoln National Corp raised its stake in Ares Capital by 3.0% in the fourth quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock valued at $354,000 after buying an additional 520 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Ares Capital by 2,224.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 291,333 shares of the investment management company’s stock valued at $5,835,000 after purchasing an additional 278,797 shares during the period. Spire Wealth Management increased its holdings in shares of Ares Capital by 1.5% in the fourth quarter. Spire Wealth Management now owns 61,260 shares of the investment management company’s stock valued at $1,247,000 after purchasing an additional 910 shares during the period. Finally, Measured Wealth Private Client Group LLC increased its holdings in shares of Ares Capital by 6.4% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 30,307 shares of the investment management company’s stock valued at $607,000 after purchasing an additional 1,813 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ARCC. Wells Fargo & Company raised their target price on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Oppenheimer raised their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a research report on Tuesday, March 26th. Truist Financial lifted their target price on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.43.

Ares Capital Trading Up 0.6 %

Shares of Ares Capital stock traded up $0.12 during trading hours on Thursday, reaching $20.90. 683,507 shares of the company’s stock were exchanged, compared to its average volume of 3,501,506. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 7.12 and a beta of 0.99. The company has a fifty day moving average of $20.46 and a 200-day moving average of $20.11. Ares Capital Co. has a 52-week low of $18.00 and a 52-week high of $21.04.

Ares Capital (NASDAQ:ARCC) 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). The business had revenue of $701.00 million for the quarter, compared to analyst estimates of $703.85 million. Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. Sell-side analysts forecast that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.19%. Ares Capital’s dividend payout ratio is currently 65.75%.

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.