Kingsview Wealth Management LLC Reduces Holdings in Ares Capital Co. (NASDAQ:ARCC)

Kingsview Wealth Management LLC lowered its stake in Ares Capital Co. (NASDAQ:ARCC) by 6.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,087 shares of the investment management company’s stock after selling 5,166 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Ares Capital were worth $1,731,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Cyndeo Wealth Partners LLC lifted its position in shares of Ares Capital by 2.3% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after acquiring an additional 430 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in shares of Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after buying an additional 531 shares in the last quarter. Western Financial Corp CA raised its position in shares of Ares Capital by 2.2% in the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after buying an additional 564 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after buying an additional 567 shares during the period. Finally, Tyche Wealth Partners LLC boosted its position in Ares Capital by 3.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock worth $360,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. B. Riley raised their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company decreased their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank of Canada raised their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.94.

Ares Capital Stock Performance

Shares of ARCC stock opened at $22.87 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.29 and a debt-to-equity ratio of 1.03. The company has a market cap of $15.36 billion, a PE ratio of 9.33 and a beta of 1.01. The company’s fifty day simple moving average is $22.42 and its 200-day simple moving average is $21.55. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, equities research analysts anticipate that Ares Capital Co. will post 2.2 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 78.37%.

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.