Crestwood Advisors Group LLC Has $4.44 Million Holdings in Ares Capital Corporation (NASDAQ:ARCC)

Crestwood Advisors Group LLC lifted its holdings in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 24.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,216 shares of the investment management company's stock after acquiring an additional 38,911 shares during the quarter. Crestwood Advisors Group LLC's holdings in Ares Capital were worth $4,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ARCC. Lewis Asset Management LLC lifted its holdings in Ares Capital by 3.4% during the 1st quarter. Lewis Asset Management LLC now owns 30,030 shares of the investment management company's stock worth $665,000 after buying an additional 975 shares in the last quarter. Wealth Quarterback LLC bought a new stake in shares of Ares Capital during the 1st quarter valued at $237,000. J.W. Cole Advisors Inc. raised its position in shares of Ares Capital by 112.6% during the 1st quarter. J.W. Cole Advisors Inc. now owns 95,731 shares of the investment management company's stock valued at $2,121,000 after acquiring an additional 50,699 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Ares Capital by 2.9% during the 1st quarter. Eagle Bay Advisors LLC now owns 90,532 shares of the investment management company's stock valued at $2,006,000 after acquiring an additional 2,551 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Ares Capital by 16.3% during the 1st quarter. IFP Advisors Inc now owns 24,921 shares of the investment management company's stock valued at $552,000 after acquiring an additional 3,492 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on ARCC shares. UBS Group upped their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods cut their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. B. Riley upgraded shares of Ares Capital to a "hold" rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ares Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.21.

Ares Capital Stock Performance

NASDAQ ARCC opened at $22.82 on Tuesday. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $15.84 billion, a PE ratio of 11.13 and a beta of 0.67. The company's 50 day simple moving average is $22.04 and its two-hundred day simple moving average is $22.01.

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

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.41%. The ex-dividend date was Friday, June 13th. Ares Capital's dividend payout ratio (DPR) is presently 93.66%.

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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