Kingswood Wealth Advisors LLC Buys 29,950 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Kingswood Wealth Advisors LLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 93.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,833 shares of the investment management company's stock after purchasing an additional 29,950 shares during the period. Kingswood Wealth Advisors LLC's holdings in Ares Capital were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Montag & Caldwell LLC bought a new position in shares of Ares Capital in the 4th quarter valued at about $33,000. VSM Wealth Advisory LLC bought a new position in shares of Ares Capital in the 4th quarter valued at about $35,000. Promus Capital LLC bought a new position in shares of Ares Capital in the 4th quarter valued at about $48,000. SRS Capital Advisors Inc. bought a new position in shares of Ares Capital in the 4th quarter valued at about $60,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Ares Capital by 20.3% during the 4th quarter. First Horizon Advisors Inc. now owns 3,564 shares of the investment management company's stock worth $78,000 after buying an additional 602 shares during the last quarter. Institutional investors own 27.38% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARCC shares. UBS Group cut their target price 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. Royal Bank Of Canada decreased their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company decreased their price target on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. B. Riley raised shares of Ares Capital to a "hold" rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.00.

Ares Capital Stock Down 0.1%

Shares of ARCC stock traded down $0.02 on Monday, hitting $21.47. The stock had a trading volume of 4,346,404 shares, compared to its average volume of 4,175,238. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 10.47 and a beta of 0.68. The business has a 50 day moving average of $21.36 and a 200 day moving average of $21.92. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The business had revenue of $599.00 million for the quarter, compared to the consensus estimate of $769.32 million. During the same quarter in the prior year, the business 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, analysts expect that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's payout ratio 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.