Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC boosted its stake in Ares Capital Co. (NASDAQ:ARCC) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,454 shares of the investment management company’s stock after purchasing an additional 996 shares during the period. Tyche Wealth Partners LLC’s holdings in Ares Capital were worth $322,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in Ares Capital by 5.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 582,578 shares of the investment management company’s stock valued at $12,129,000 after buying an additional 29,671 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in Ares Capital by 5.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock valued at $7,913,000 after buying an additional 20,202 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Ares Capital by 614.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,198 shares of the investment management company’s stock valued at $144,000 after buying an additional 6,191 shares during the last quarter. Gilbert & Cook Inc. boosted its position in Ares Capital by 6.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock valued at $27,737,000 after buying an additional 85,561 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new position in shares of Ares Capital during the first quarter worth about $86,227,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. JMP Securities increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report 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, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $21.71.

Ares Capital Stock Performance

NASDAQ ARCC traded up $0.01 during trading hours on Friday, reaching $20.74. The company’s stock had a trading volume of 2,304,769 shares, compared to its average volume of 3,451,424. The company has a current ratio of 1.40, a quick ratio of 1.63 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $20.82 and a 200 day simple moving average of $20.67. Ares Capital Co. has a 52 week low of $18.55 and a 52 week high of $21.84. The stock has a market cap of $12.75 billion, a PE ratio of 7.10 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results 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. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same quarter last year, the business earned $0.58 earnings per share. Equities research analysts predict that Ares Capital Co. will post 2.38 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.26%. Ares Capital’s payout ratio is currently 65.75%.

About Ares Capital

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.