Visionary Wealth Advisors Makes New $277,000 Investment in Ares Capital Co. (NASDAQ:ARCC)

Visionary Wealth Advisors bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,635 shares of the investment management company's stock, valued at approximately $277,000.

Several other hedge funds have also modified their holdings of the company. Montag & Caldwell LLC acquired a new position in shares of Ares Capital during the 4th quarter worth about $33,000. VSM Wealth Advisory LLC acquired a new stake in Ares Capital in the 4th quarter valued at about $35,000. Promus Capital LLC purchased a new stake in shares of Ares Capital in the 4th quarter valued at approximately $48,000. SRS Capital Advisors Inc. purchased a new stake in shares of Ares Capital in the 4th quarter valued at approximately $60,000. Finally, Montag A & Associates Inc. grew its stake in shares of Ares Capital by 92.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock valued at $63,000 after buying an additional 1,389 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC traded up $0.26 during midday trading on Tuesday, hitting $21.85. The stock had a trading volume of 887,629 shares, compared to its average volume of 4,129,744. The company has a market capitalization of $15.16 billion, a PE ratio of 8.92 and a beta of 0.70. The stock has a 50 day moving average price of $21.05 and a two-hundred day moving average price of $21.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The company had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. As a group, equities analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.79%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's dividend payout ratio is currently 93.66%.

Analysts Set New Price Targets

ARCC has been the subject of a number of research analyst reports. UBS Group lowered 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 report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

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.