Fullcircle Wealth LLC Acquires New Holdings in Ares Capital Corporation (NASDAQ:ARCC)

Fullcircle Wealth LLC acquired a new position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,071 shares of the investment management company's stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Ares Capital by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 139,214 shares of the investment management company's stock valued at $3,047,000 after purchasing an additional 11,827 shares during the last quarter. US Bancorp DE lifted its holdings in Ares Capital by 4.7% during the 4th quarter. US Bancorp DE now owns 43,056 shares of the investment management company's stock valued at $942,000 after purchasing an additional 1,945 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Ares Capital by 89.2% during the 4th quarter. Jones Financial Companies Lllp now owns 8,887 shares of the investment management company's stock valued at $195,000 after purchasing an additional 4,189 shares during the last quarter. Assetmark Inc. lifted its holdings in Ares Capital by 361.8% during the 4th quarter. Assetmark Inc. now owns 3,999 shares of the investment management company's stock valued at $88,000 after purchasing an additional 3,133 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in Ares Capital by 76.9% during the 4th quarter. Atria Investments Inc now owns 90,676 shares of the investment management company's stock valued at $1,985,000 after purchasing an additional 39,420 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ARCC. UBS Group lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Royal Bank Of Canada lowered their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. B. Riley upgraded shares of Ares Capital to a "hold" rating in a research report on Monday, June 16th. Wells Fargo & Company raised their price objective 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. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Ares Capital Trading Up 0.4%

Shares of Ares Capital stock traded up $0.09 during trading on Tuesday, reaching $22.42. 2,225,047 shares of the company were exchanged, compared to its average volume of 4,208,388. The business has a 50-day moving average price of $21.66 and a 200-day moving average price of $21.95. The firm has a market capitalization of $15.56 billion, a price-to-earnings ratio of 10.94 and a beta of 0.67. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.02. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its earnings results 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 analyst estimates of $769.32 million. Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. Ares Capital's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Sell-side analysts anticipate 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.56%. The ex-dividend date of this dividend was Friday, June 13th. Ares Capital's dividend payout ratio is currently 93.66%.

Ares Capital 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.