Independent Advisor Alliance Makes New $3.75 Million Investment in Ares Capital Corporation $ARCC

Independent Advisor Alliance acquired a new position in Ares Capital Corporation (NASDAQ:ARCC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 185,192 shares of the investment management company’s stock, valued at approximately $3,746,000.

Other institutional investors have also made changes to their positions in the company. SWAN Capital LLC bought a new stake in shares of Ares Capital in the third quarter valued at approximately $27,000. NBT Bank N A NY bought a new stake in shares of Ares Capital in the third quarter valued at approximately $31,000. Quarry LP bought a new stake in shares of Ares Capital in the third quarter valued at approximately $33,000. Ameriflex Group Inc. boosted its stake in shares of Ares Capital by 201.0% in the third quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock valued at $36,000 after buying an additional 1,178 shares during the period. Finally, WFA of San Diego LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth $36,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Up 0.1%

Shares of ARCC opened at $18.78 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Corporation has a one year low of $17.40 and a one year high of $23.42. The company has a market cap of $13.48 billion, a P/E ratio of 11.52 and a beta of 0.58. The firm has a 50 day simple moving average of $18.49 and a two-hundred day simple moving average of $19.56.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. Ares Capital’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is presently 117.79%.

Analyst Upgrades and Downgrades

ARCC has been the topic of several analyst reports. UBS Group reduced their target price on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Keefe, Bruyette & Woods reduced their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company decreased their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Citizens Jmp decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, Truist Financial decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.75.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.