Merkkuri Wealth Advisors LLC Has $272,000 Stock Holdings in Ares Capital Corporation $ARCC

Merkkuri Wealth Advisors LLC trimmed its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 69.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,117 shares of the investment management company’s stock after selling 34,556 shares during the quarter. Merkkuri Wealth Advisors LLC’s holdings in Ares Capital were worth $272,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Morgan Stanley lifted its stake in Ares Capital by 2.0% in the fourth quarter. Morgan Stanley now owns 17,558,581 shares of the investment management company’s stock valued at $355,210,000 after buying an additional 341,578 shares in the last quarter. UBS Group AG raised its holdings in shares of Ares Capital by 41.8% during the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after acquiring an additional 3,301,890 shares during the period. Bank of America Corp DE raised its holdings in shares of Ares Capital by 8.9% during the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock worth $190,572,000 after acquiring an additional 705,882 shares during the period. Legal & General Group Plc lifted its position in Ares Capital by 16.4% in the 4th quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock valued at $109,432,000 after acquiring an additional 761,838 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Ares Capital by 1.5% in the 4th quarter. Wells Fargo & Company MN now owns 4,387,637 shares of the investment management company’s stock valued at $88,762,000 after acquiring an additional 63,796 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

NASDAQ:ARCC opened at $18.21 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. The stock’s 50-day simple moving average is $18.73 and its 200 day simple moving average is $19.19. The company has a market cap of $13.08 billion, a P/E ratio of 11.17 and a beta of 0.56. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $23.42.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) 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 company had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio is presently 117.79%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARCC. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. JPMorgan Chase & Co. cut their price target on Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Keefe, Bruyette & Woods reduced their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. B. Riley Financial decreased their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average price target of $20.65.

Ares Capital Profile

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.