Global Wealth Management Investment Advisory Inc. Acquires Shares of 44,717 Ares Capital Corporation (NASDAQ:ARCC)

Global Wealth Management Investment Advisory Inc. bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 44,717 shares of the investment management company's stock, valued at approximately $991,000.

Several other large investors also recently bought and sold shares of ARCC. Generali Asset Management SPA SGR acquired a new stake in shares of Ares Capital in the fourth quarter worth $84,426,000. Raymond James Financial Inc. acquired a new stake in Ares Capital during the 4th quarter worth about $58,159,000. Two Sigma Investments LP raised its stake in shares of Ares Capital by 81.0% during the 4th quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company's stock valued at $58,633,000 after buying an additional 1,198,580 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ares Capital by 26.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after buying an additional 881,450 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Ares Capital by 12.3% in the 4th quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock valued at $174,068,000 after buying an additional 871,370 shares during the period. Hedge funds and other institutional investors own 27.38% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ARCC. JPMorgan Chase & Co. dropped their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Royal Bank Of Canada dropped their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. B. Riley raised shares of Ares Capital to a "hold" rating in a report on Monday, June 16th. UBS Group decreased their target price on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $22.00.

Ares Capital Price Performance

Shares of NASDAQ:ARCC traded up $0.12 during midday trading on Friday, reaching $22.38. 2,213,408 shares of the company's stock traded hands, compared to its average volume of 4,206,623. The company has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $21.92. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a market cap of $15.54 billion, a P/E ratio of 10.92 and a beta of 0.67. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Equities analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.58%. The ex-dividend date was Friday, June 13th. Ares Capital's payout ratio is 93.66%.

About Ares Capital

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.