Ares Capital Corporation (NASDAQ:ARCC) Holdings Boosted by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 104.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,266 shares of the investment management company's stock after buying an additional 20,018 shares during the period. Golden State Wealth Management LLC's holdings in Ares Capital were worth $870,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ARCC. Montag & Caldwell LLC acquired a new position in shares of Ares Capital during the fourth quarter worth approximately $33,000. VSM Wealth Advisory LLC bought a new stake in Ares Capital during the 4th quarter valued at $35,000. Continuum Advisory LLC boosted 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 worth $36,000 after acquiring an additional 1,241 shares during the period. PSI Advisors LLC grew its stake in shares of Ares Capital by 121.1% in the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock worth $47,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Promus Capital LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at $48,000. 27.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ARCC has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods reduced their price target 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. UBS Group lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. 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. Finally, Royal Bank Of Canada decreased their price target 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. One investment 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.00.

Ares Capital Price Performance

ARCC stock traded up $0.20 on Friday, hitting $21.95. 4,548,962 shares of the company's stock traded hands, compared to its average volume of 4,190,132. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 10.71 and a beta of 0.68. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. 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 stock has a fifty day moving average of $21.48 and a 200-day moving average of $21.91.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $599.00 million for the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. Ares Capital's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. On average, analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.48 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.75%. Ares Capital's dividend payout ratio (DPR) is 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.