Obermeyer Wealth Partners Buys 18,898 Shares of Ares Capital Co. (NASDAQ:ARCC)

Obermeyer Wealth Partners grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,913 shares of the investment management company's stock after purchasing an additional 18,898 shares during the period. Obermeyer Wealth Partners' holdings in Ares Capital were worth $3,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McGowan Group Asset Management Inc. boosted its holdings in Ares Capital by 0.4% in the fourth quarter. McGowan Group Asset Management Inc. now owns 1,042,586 shares of the investment management company's stock worth $22,822,000 after acquiring an additional 3,907 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Ares Capital by 31.6% in the 4th quarter. Lazard Asset Management LLC now owns 31,400 shares of the investment management company's stock worth $687,000 after purchasing an additional 7,547 shares in the last quarter. Global Assets Advisory LLC lifted its holdings in shares of Ares Capital by 31.9% in the 4th quarter. Global Assets Advisory LLC now owns 24,608 shares of the investment management company's stock worth $547,000 after purchasing an additional 5,957 shares in the last quarter. Focus Partners Wealth acquired a new stake in Ares Capital in the 4th quarter valued at $1,260,000. Finally, Enstar Group LTD bought a new stake in Ares Capital during the 4th quarter valued at $10,265,000. Institutional investors own 27.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARCC shares. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods cut their price target on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. UBS Group decreased their price objective on Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada dropped their target price on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. One equities 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.00.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $21.59 on Tuesday. The business's fifty day simple moving average is $21.09 and its 200 day simple moving average is $21.89. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $14.89 billion, a P/E ratio of 8.81 and a beta of 0.70. Ares Capital Co. has a 12 month low of $18.26 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted 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). 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 business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.92 annualized dividend and a yield of 8.89%. Ares Capital's payout ratio is 93.66%.

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.

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