Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Spire Wealth Management

Spire Wealth Management raised its stake in Ares Capital Co. (NASDAQ:ARCC) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,475 shares of the investment management company’s stock after buying an additional 1,263 shares during the quarter. Spire Wealth Management’s holdings in Ares Capital were worth $1,630,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Ares Capital by 39.7% in the 2nd quarter. Bank of Montreal Can now owns 20,510 shares of the investment management company’s stock valued at $441,000 after buying an additional 5,832 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Ares Capital by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 177,553 shares of the investment management company’s stock worth $3,700,000 after purchasing an additional 4,030 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Ares Capital by 2.1% during the 2nd quarter. Truist Financial Corp now owns 137,274 shares of the investment management company’s stock worth $2,861,000 after buying an additional 2,888 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Ares Capital in the 2nd quarter valued at about $3,377,000. Finally, Richard P Slaughter Associates Inc lifted its position in Ares Capital by 14.5% during the third quarter. Richard P Slaughter Associates Inc now owns 83,831 shares of the investment management company’s stock worth $1,755,000 after acquiring an additional 10,588 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARCC. B. Riley lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.79.

Ares Capital Price Performance

ARCC stock opened at $23.80 on Tuesday. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $22.32 and a two-hundred day simple moving average of $21.47. The firm has a market capitalization of $15.38 billion, a P/E ratio of 9.15 and a beta of 1.00.

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.