Tyche Wealth Partners LLC Buys New Stake in Ares Capital Co. (NASDAQ:ARCC)

Tyche Wealth Partners LLC purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, HoldingsChannel reports. The firm purchased 29,073 shares of the investment management company’s stock, valued at approximately $582,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Ares Capital during the third quarter worth approximately $25,000. Point72 Asset Management L.P. grew its holdings in shares of Ares Capital by 100.8% during the second quarter. Point72 Asset Management L.P. now owns 1,426 shares of the investment management company’s stock worth $27,000 after buying an additional 181,426 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Ares Capital in the third quarter valued at about $29,000. Cape Investment Advisory Inc. lifted its stake in shares of Ares Capital by 411.0% in the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after buying an additional 1,570 shares in the last quarter. Finally, Activest Wealth Management boosted its position in Ares Capital by 137.2% during the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after acquiring an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARCC shares. B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Monday, January 8th. Wells Fargo & Company lifted their price target on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.80.

Ares Capital Stock Performance

ARCC traded up $0.15 on Wednesday, reaching $20.39. The company had a trading volume of 197,249 shares, compared to its average volume of 3,636,025. The stock has a 50-day moving average price of $20.29 and a 200-day moving average price of $19.93. The stock has a market capitalization of $12.37 billion, a PE ratio of 7.58 and a beta of 1.00. Ares Capital Co. has a 1 year low of $17.53 and a 1 year high of $20.86. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The firm had revenue of $707.00 million for the quarter, compared to the consensus estimate of $669.78 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts forecast that Ares Capital Co. will post 2.35 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.42%. Ares Capital’s dividend payout ratio (DPR) is 71.91%.

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.