Waverly Advisors LLC Acquires 43,050 Shares of Ares Capital Co. (NASDAQ:ARCC)

Waverly Advisors LLC grew its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 28.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,983 shares of the investment management company's stock after acquiring an additional 43,050 shares during the period. Waverly Advisors LLC's holdings in Ares Capital were worth $4,290,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ARCC. Cyndeo Wealth Partners LLC boosted its holdings in shares of Ares Capital by 2.3% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after buying an additional 430 shares during the period. World Investment Advisors boosted its holdings in shares of Ares Capital by 4.1% during the 4th quarter. World Investment Advisors now owns 12,521 shares of the investment management company's stock worth $274,000 after buying an additional 488 shares during the period. Fiduciary Group LLC boosted its holdings in shares of Ares Capital by 2.3% during the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock worth $478,000 after buying an additional 500 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock worth $1,230,000 after buying an additional 512 shares during the period. Finally, Western Financial Corp CA boosted its holdings in shares of Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock worth $578,000 after buying an additional 564 shares during the period. 27.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods cut their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Ares Capital Trading Down 2.1%

Shares of ARCC stock opened at $21.53 on Thursday. Ares Capital Co. has a 52-week low of $18.26 and a 52-week high of $23.84. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 8.79 and a beta of 0.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a fifty day moving average of $21.06 and a 200-day moving average of $21.91.

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

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.92%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's dividend 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.

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