Evercore Wealth Management LLC Buys 182,651 Shares of Ares Capital Corporation $ARCC

Evercore Wealth Management LLC lifted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,121,008 shares of the investment management company’s stock after purchasing an additional 182,651 shares during the quarter. Evercore Wealth Management LLC’s holdings in Ares Capital were worth $56,241,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Palladiem LLC purchased a new stake in Ares Capital during the 4th quarter valued at $26,000. SWAN Capital LLC purchased a new position in Ares Capital during the third quarter worth $27,000. Sankala Group LLC purchased a new position in Ares Capital during the fourth quarter worth $28,000. Core Wealth Advisors LLC bought a new position in Ares Capital during the fourth quarter valued at $33,000. Finally, Quarry LP bought a new position in Ares Capital during the third quarter valued at $33,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Up 0.6%

NASDAQ:ARCC opened at $18.89 on Tuesday. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 11.59 and a beta of 0.56. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.12. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $18.66 and a 200-day simple moving average of $18.94.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. Analysts anticipate that Ares Capital Corporation will post 1.9 EPS for the current year.

Analysts Set New Price Targets

ARCC has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada decreased their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Truist Financial dropped their target price on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, Citizens Jmp cut their target price on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.