13,629 Shares in Ares Capital Corporation (NASDAQ:ARCC) Bought by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC KS has invested $302,000 in Ares Capital Corporation, acquiring 13,629 shares in the first quarter.
• Notable increases in holdings by other investors include Bessemer Group Inc. increasing its stake by 23,571.4% and GAMMA Investing LLC increasing by 2,116.0%.
• Ares Capital has a current dividend yield of 8.31%, with a recently announced quarterly dividend of $0.48 for stockholders of record.

Caliber Wealth Management LLC KS purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,629 shares of the investment management company's stock, valued at approximately $302,000.

A number of other large investors have also made changes to their positions in ARCC. Two Sigma Investments LP grew 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 purchasing an additional 1,198,580 shares during the period. JPMorgan Chase & Co. raised its holdings 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 worth $93,439,000 after acquiring an additional 881,450 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Ares Capital by 12.3% during the 4th quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock worth $174,068,000 after acquiring an additional 871,370 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Ares Capital by 189.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,302,501 shares of the investment management company's stock worth $28,512,000 after acquiring an additional 852,801 shares in the last quarter. Finally, Spinnaker Trust bought a new position in shares of Ares Capital during the 1st quarter valued at approximately $11,390,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Up 1.3%

ARCC traded up $0.30 on Wednesday, hitting $22.84. 1,299,849 shares of the company were exchanged, compared to its average volume of 4,594,495. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 11.14 and a beta of 0.67. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $22.19 and a two-hundred day moving average price of $22.05.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). The firm had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. During the same period last year, the company earned $0.61 earnings per share. On average, equities analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.41%. Ares Capital's payout ratio is currently 93.66%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on Ares Capital from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their price objective on Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, UBS Group increased their price target on Ares Capital from $22.00 to $22.50 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Ares Capital presently has a consensus rating of "Moderate Buy" and an average target price of $22.71.

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.