Gentry Private Wealth LLC Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)

Gentry Private Wealth LLC acquired a new position in Ares Capital Co. (NASDAQ:ARCC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,380 shares of the investment management company’s stock, valued at approximately $383,000.

Other hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new stake in Ares Capital in the fourth quarter worth about $25,000. Jamison Private Wealth Management Inc. raised its position in Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares during the period. Valley National Advisers Inc. raised its position in shares of Ares Capital by 323.3% in the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 1,096 shares during the period. Pingora Partners LLC bought a new stake in shares of Ares Capital in the fourth quarter valued at approximately $30,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Ares Capital in the second quarter valued at approximately $32,000. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

ARCC has been the topic of several research reports. JMP Securities boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Finally, UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Price Performance

ARCC stock opened at $20.52 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Co. has a one year low of $18.55 and a one year high of $21.84. The stock has a market cap of $12.61 billion, a PE ratio of 7.03 and a beta of 1.01. The firm has a 50 day simple moving average of $20.84 and a two-hundred day simple moving average of $20.75.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. During the same quarter in the previous year, the company earned $0.58 EPS. On average, analysts predict that Ares Capital Co. will post 2.38 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 9.36%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

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.