Obermeyer Wealth Partners Purchases 5,400 Shares of Ares Capital Corporation $ARCC

Obermeyer Wealth Partners lifted its position in Ares Capital Corporation (NASDAQ:ARCC) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,856 shares of the investment management company’s stock after buying an additional 5,400 shares during the period. Obermeyer Wealth Partners’ holdings in Ares Capital were worth $3,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Elequin Capital LP bought a new position in shares of Ares Capital during the first quarter valued at approximately $30,000. CNB Bank bought a new position in Ares Capital in the 2nd quarter worth about $36,000. Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital during the second quarter worth approximately $38,000. Wolff Wiese Magana LLC bought a new position in Ares Capital in the second quarter worth approximately $40,000. Finally, Investment Management Corp VA ADV grew its position in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after buying an additional 1,206 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARCC has been the subject of several research reports. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Capital One Financial set a $22.50 target price on shares of Ares Capital in a report on Friday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Ares Capital in a research note on Thursday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Capital has an average rating of “Moderate Buy” and an average price target of $22.25.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $20.35 on Monday. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09. The company has a market cap of $14.57 billion, a PE ratio of 10.18 and a beta of 0.68. The company’s 50 day moving average is $20.88 and its 200 day moving average is $21.56.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $658.00 million for the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. On average, sell-side analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.4%. Ares Capital’s payout ratio is presently 96.00%.

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.