CreativeOne Wealth LLC Has $803,000 Holdings in Ares Capital Co. (NASDAQ:ARCC)

CreativeOne Wealth LLC increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,581 shares of the investment management company’s stock after acquiring an additional 995 shares during the quarter. CreativeOne Wealth LLC’s holdings in Ares Capital were worth $803,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Nemes Rush Group LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at about $25,000. Valley National Advisers Inc. raised its holdings in Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 1,096 shares in the last quarter. Pingora Partners LLC bought a new stake in shares of Ares Capital in the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. grew its holdings in shares of Ares Capital by 93.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock worth $38,000 after purchasing an additional 931 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Ares Capital by 218.7% during the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 1,345 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial raised their target price on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Oppenheimer raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.57.

Ares Capital Price Performance

NASDAQ:ARCC traded up $0.18 on Friday, reaching $20.95. The stock had a trading volume of 2,151,992 shares, compared to its average volume of 2,411,995. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $12.87 billion, a P/E ratio of 7.17 and a beta of 1.01. Ares Capital Co. has a 1-year low of $18.55 and a 1-year high of $21.84. The stock has a fifty day moving average price of $21.07 and a 200-day moving average price of $20.65.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. Research analysts forecast that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.16%. The ex-dividend date was Friday, June 14th. Ares Capital’s payout ratio is presently 65.75%.

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.