Institute for Wealth Management LLC. raised its stake in Ares Capital Co. (NASDAQ:ARCC) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 48,576 shares of the investment management company’s stock after purchasing an additional 902 shares during the period. Institute for Wealth Management LLC.’s holdings in Ares Capital were worth $871,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARCC. Stephens Inc. AR boosted its stake in Ares Capital by 0.4% during the 1st quarter. Stephens Inc. AR now owns 161,135 shares of the investment management company’s stock valued at $2,762,000 after purchasing an additional 565 shares during the period. Nordea Investment Management AB boosted its stake in Ares Capital by 50.9% during the 1st quarter. Nordea Investment Management AB now owns 1,684 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. MBM Wealth Consultants LLC boosted its stake in Ares Capital by 2.0% during the 2nd quarter. MBM Wealth Consultants LLC now owns 32,806 shares of the investment management company’s stock valued at $590,000 after purchasing an additional 632 shares during the period. Wambolt & Associates LLC boosted its stake in Ares Capital by 0.8% during the 2nd quarter. Wambolt & Associates LLC now owns 84,062 shares of the investment management company’s stock valued at $1,508,000 after purchasing an additional 693 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its stake in Ares Capital by 6.4% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 12,844 shares of the investment management company’s stock valued at $230,000 after purchasing an additional 774 shares during the period. 36.94% of the stock is owned by institutional investors.
A number of analysts have commented on ARCC shares. Wedbush set a $20.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research report on Tuesday, May 14th. National Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Ares Capital in a report on Wednesday, May 1st. BidaskClub upgraded shares of Ares Capital from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BMO Capital Markets upgraded shares of Ares Capital from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $20.00 in a report on Monday. Finally, Raymond James boosted their price target on shares of Ares Capital from $19.00 to $19.50 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $19.38.
ARCC traded up $0.34 on Monday, reaching $18.99. 586,419 shares of the company traded hands, compared to its average volume of 1,696,675. The stock’s 50 day moving average price is $18.25 and its 200-day moving average price is $17.64. Ares Capital Co. has a 52-week low of $14.50 and a 52-week high of $18.83. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 11.30 and a beta of 0.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.10.
Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate of $363.60 million. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, equities research analysts forecast that Ares Capital Co. will post 1.85 earnings per share for the current fiscal year.
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.
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