Free Trial

J.W. Cole Advisors Inc. Raises Stake in Ares Capital Corporation (NASDAQ:ARCC)

Ares Capital logo with Finance background

J.W. Cole Advisors Inc. raised its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 112.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,731 shares of the investment management company's stock after buying an additional 50,699 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Ares Capital were worth $2,121,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. World Investment Advisors lifted its stake in shares of Ares Capital by 4.1% in the 4th quarter. World Investment Advisors now owns 12,521 shares of the investment management company's stock valued at $274,000 after purchasing an additional 488 shares during the last quarter. BankPlus Wealth Management LLC lifted its stake in shares of Ares Capital by 2.5% in the 1st quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company's stock valued at $439,000 after purchasing an additional 492 shares during the last quarter. Western Financial Corp CA lifted its stake in shares of Ares Capital by 2.2% in the 1st quarter. Western Financial Corp CA now owns 26,961 shares of the investment management company's stock valued at $597,000 after purchasing an additional 574 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its stake in shares of Ares Capital by 0.6% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company's stock valued at $2,316,000 after purchasing an additional 582 shares during the last quarter. Finally, Magnus Financial Group LLC lifted its stake in shares of Ares Capital by 2.2% in the 1st quarter. Magnus Financial Group LLC now owns 31,319 shares of the investment management company's stock valued at $694,000 after purchasing an additional 664 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ARCC shares. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. UBS Group upped 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. B. Riley raised Ares Capital to a "hold" rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company increased their target price on Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.21.

Check Out Our Latest Stock Analysis on Ares Capital

Ares Capital Price Performance

ARCC opened at $22.82 on Tuesday. The stock's 50-day moving average price is $22.04 and its 200 day moving average price is $22.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.02. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 11.13 and a beta of 0.67.

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

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued 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 (DPR) is 93.66%.

Ares Capital Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Corporation (NASDAQ:ARCC - Free Report).

Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Ares Capital Right Now?

Before you consider Ares Capital, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Capital wasn't on the list.

While Ares Capital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Drone Stocks Are Skyrocketing Right Now!
Pelosi Makes Big Bet on Broadcom—Here’s Why It Matters
This Strategy Beat the S&P—And Most Investors Ignore It

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines