Left Brain Wealth Management LLC Has $1.85 Million Holdings in Ares Capital Corporation (NASDAQ:ARCC)

Left Brain Wealth Management LLC lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 18.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,545 shares of the investment management company's stock after buying an additional 13,270 shares during the quarter. Left Brain Wealth Management LLC's holdings in Ares Capital were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Ares Capital by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 139,214 shares of the investment management company's stock worth $3,047,000 after purchasing an additional 11,827 shares during the last quarter. Assetmark Inc. lifted its stake in Ares Capital by 361.8% during the fourth quarter. Assetmark Inc. now owns 3,999 shares of the investment management company's stock worth $88,000 after purchasing an additional 3,133 shares during the last quarter. M&T Bank Corp bought a new position in Ares Capital during the fourth quarter worth $222,000. Proficio Capital Partners LLC bought a new position in Ares Capital during the fourth quarter worth $2,872,000. Finally, HighTower Advisors LLC lifted its stake in Ares Capital by 48.6% during the fourth quarter. HighTower Advisors LLC now owns 1,400,539 shares of the investment management company's stock worth $30,658,000 after purchasing an additional 458,360 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Price Performance

Ares Capital stock traded up $0.06 during midday trading on Friday, hitting $22.84. The company's stock had a trading volume of 2,646,760 shares, compared to its average volume of 4,217,212. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.02. The stock's 50-day moving average price is $21.82 and its 200-day moving average price is $21.97. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month 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 issued its quarterly 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 return on equity of 11.05% and a net margin of 43.50%. The business had revenue of $599.00 million during the quarter, compared to the consensus estimate of $769.32 million. During the same quarter last year, the firm posted $0.59 earnings per share. Ares Capital's revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

ARCC has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective 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. Royal Bank Of Canada reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, June 27th. UBS Group reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. One research 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. According to MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

About Ares Capital

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.