Beacon Capital Management LLC Purchases 1,740 Shares of Ares Capital Co. (NASDAQ:ARCC)

Beacon Capital Management LLC grew its holdings in Ares Capital Co. (NASDAQ:ARCC) by 60.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,609 shares of the investment management company’s stock after purchasing an additional 1,740 shares during the quarter. Beacon Capital Management LLC’s holdings in Ares Capital were worth $96,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of Ares Capital by 6.3% during the first quarter. Tidal Investments LLC now owns 54,206 shares of the investment management company’s stock worth $1,129,000 after buying an additional 3,206 shares in the last quarter. DCM Advisors LLC increased its stake in shares of Ares Capital by 7.0% in the 1st quarter. DCM Advisors LLC now owns 23,390 shares of the investment management company’s stock valued at $487,000 after purchasing an additional 1,524 shares during the last quarter. Waverly Advisors LLC bought a new position in shares of Ares Capital in the 1st quarter valued at $1,492,000. SVB Wealth LLC lifted its holdings in Ares Capital by 16.7% during the 1st quarter. SVB Wealth LLC now owns 17,305 shares of the investment management company’s stock worth $360,000 after buying an additional 2,473 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Ares Capital by 52.7% in the 1st quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock valued at $28,192,000 after purchasing an additional 467,535 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ARCC shares. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Thursday, May 23rd. Oppenheimer upped their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Truist Financial increased their price objective on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Price Performance

ARCC traded down $0.11 during trading on Thursday, hitting $20.83. The company’s stock had a trading volume of 2,442,356 shares, compared to its average volume of 3,416,135. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84. The business’s fifty day simple moving average is $21.05 and its 200 day simple moving average is $20.66. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 7.17 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a return on equity of 12.53% and a net margin of 59.76%. During the same period last year, the company earned $0.58 earnings per share. On average, equities research analysts forecast that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.22%. Ares Capital’s payout ratio is 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.