Sax Wealth Advisors LLC Acquires Shares of 22,235 Ares Capital Corporation $ARCC

Key Points

• Sax Wealth Advisors LLC has purchased a new position of 22,235 shares in Ares Capital Corporation, valued at approximately $493,000.
• Recent analyst reports have upgraded Ares Capital's rating, with a consensus rating of "Moderate Buy" and an average price target of $22.86.
• Ares Capital has declared a quarterly dividend of $0.48 per share, resulting in an annualized dividend yield of 8.6%, with the ex-dividend date set for September 15th.

Sax Wealth Advisors LLC purchased a new position in Ares Capital Corporation (NASDAQ:ARCC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,235 shares of the investment management company's stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BankPlus Wealth Management LLC boosted its position 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 worth $439,000 after purchasing an additional 492 shares during the last quarter. Western Financial Corp CA boosted its position 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 worth $597,000 after purchasing an additional 574 shares during the last quarter. Taylor Frigon Capital Management LLC raised its stake in Ares Capital by 0.6% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company's stock worth $2,316,000 after buying an additional 582 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in Ares Capital by 1.1% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 56,776 shares of the investment management company's stock worth $1,258,000 after buying an additional 594 shares during the period. Finally, Magnus Financial Group LLC raised its stake in Ares Capital by 2.2% during the 1st quarter. Magnus Financial Group LLC now owns 31,319 shares of the investment management company's stock worth $694,000 after buying an additional 664 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC traded down $0.06 during trading on Thursday, reaching $22.25. 3,446,701 shares of the stock were exchanged, compared to its average volume of 4,444,153. 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 $15.69 billion, a PE ratio of 10.85 and a beta of 0.70. The stock has a 50-day moving average price of $22.43 and a 200-day moving average price of $21.95. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same quarter last year, the firm posted $0.61 earnings per share. Research analysts expect 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 Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Monday, September 15th. Ares Capital's payout ratio is 93.66%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Ares Capital from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wall Street Zen raised Ares Capital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. B. Riley raised Ares Capital from a "neutral" rating to a "buy" rating and lifted their target price for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price target on Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada reduced their price target on Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Ares Capital has a consensus rating of "Moderate Buy" and a consensus target price of $22.86.

Ares Capital 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.