Texas Capital Bank Wealth Management Services Inc Buys 12,190 Shares of Ares Capital Corporation $ARCC

Key Points

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Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,924 shares of the investment management company's stock after purchasing an additional 12,190 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Ares Capital were worth $3,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCC. Elequin Capital LP bought a new position in Ares Capital during the first quarter valued at approximately $30,000. Continuum Advisory LLC lifted its position in Ares Capital by 320.7% during the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock valued at $36,000 after purchasing an additional 1,241 shares during the period. Investment Management Corp VA ADV lifted its position in Ares Capital by 193.9% during the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company's stock valued at $41,000 after purchasing an additional 1,206 shares during the period. PSI Advisors LLC lifted its position in Ares Capital by 121.1% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock valued at $47,000 after purchasing an additional 1,150 shares during the period. Finally, Archer Investment Corp lifted its position in Ares Capital by 281.3% during the first quarter. Archer Investment Corp now owns 2,440 shares of the investment management company's stock valued at $54,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 27.38% of the company's stock.

Ares Capital Price Performance

ARCC opened at $22.41 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The firm's fifty day moving average is $22.37 and its 200 day moving average is $21.98. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of 10.93 and a beta of 0.70.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The firm had revenue of $614.00 million for the quarter, compared to analysts' expectations of $748.76 million. During the same quarter last year, the firm posted $0.61 EPS. On average, sell-side analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.6%. Ares Capital's payout ratio is 93.66%.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several analyst reports. Wall Street Zen upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a research note on Saturday. UBS Group lifted their price target on shares of Ares Capital from $22.00 to $22.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, B. Riley upgraded shares of Ares Capital from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $22.50 to $23.50 in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.86.

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.

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