102,393 Shares in Ares Capital Corporation (NASDAQ:ARCC) Bought by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC bought a new stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 102,393 shares of the investment management company's stock, valued at approximately $2,269,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Montag & Caldwell LLC bought a new position in Ares Capital during the 4th quarter valued at approximately $33,000. VSM Wealth Advisory LLC bought a new position in Ares Capital during the 4th quarter valued at approximately $35,000. Continuum Advisory LLC raised its position in Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock valued at $36,000 after purchasing an additional 1,241 shares during the last quarter. PSI Advisors LLC raised its position in Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock valued at $47,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in shares of Ares Capital by 137.6% in the 1st quarter. Rosenberg Matthew Hamilton now owns 2,704 shares of the investment management company's stock worth $60,000 after acquiring an additional 1,566 shares in the last quarter. Institutional investors own 27.38% of the company's stock.

Ares Capital Stock Up 0.3%

Shares of Ares Capital stock traded up $0.06 during midday trading on Friday, hitting $22.84. The company had a trading volume of 2,646,760 shares, compared to its average volume of 4,214,170. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $15.86 billion, a P/E ratio of 11.14 and a beta of 0.67. The company has a 50 day moving average of $21.82 and a 200 day moving average of $21.97. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84.

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 the consensus estimate of $0.54 by ($0.04). Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The business had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, June 13th. This represents a $1.92 annualized dividend and a yield of 8.41%. Ares Capital's dividend payout ratio is 93.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARCC. Keefe, Bruyette & Woods decreased their target price on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada decreased their target price on 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 raised Ares Capital to a "hold" rating in a research report on Monday, June 16th. UBS Group decreased their target price on Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

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.