Kathmere Capital Management LLC Cuts Holdings in Ares Capital Corporation (NASDAQ:ARCC)

Kathmere Capital Management LLC decreased its position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 46.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,398 shares of the investment management company's stock after selling 22,293 shares during the period. Kathmere Capital Management LLC's holdings in Ares Capital were worth $563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARCC. Callahan Advisors LLC purchased a new position in Ares Capital in the first quarter worth about $377,000. Gateway Wealth Partners LLC purchased a new position in Ares Capital in the first quarter worth about $2,269,000. SteelPeak Wealth LLC grew its position in Ares Capital by 5.6% in the first quarter. SteelPeak Wealth LLC now owns 47,463 shares of the investment management company's stock worth $1,052,000 after acquiring an additional 2,509 shares in the last quarter. Diversify Wealth Management LLC grew its position in Ares Capital by 15.5% in the first quarter. Diversify Wealth Management LLC now owns 15,117 shares of the investment management company's stock worth $312,000 after acquiring an additional 2,031 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Ares Capital in the first quarter worth about $1,384,000. Hedge funds and other institutional investors own 27.38% of the company's stock.

Ares Capital Stock Performance

Ares Capital stock opened at $22.84 on Friday. The company has a 50 day moving average price of $21.82 and a 200-day moving average price of $21.97. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The company has a market capitalization of $15.86 billion, a PE ratio of 11.14 and a beta of 0.67.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted 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 net margin of 43.50% and a return on equity of 11.05%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $769.32 million. During the same period in the prior year, the firm posted $0.59 EPS. The business's revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast 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. Stockholders of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.41%. The ex-dividend date was Friday, June 13th. Ares Capital's dividend payout ratio is presently 93.66%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARCC. JPMorgan Chase & Co. dropped their price target 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. Wells Fargo & Company raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Keefe, Bruyette & Woods decreased 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 note on Tuesday, April 8th. UBS Group decreased 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 note on Thursday, April 17th. Finally, B. Riley raised shares of Ares Capital to a "hold" rating in a research note on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ares Capital currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

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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