Avidian Wealth Enterprises LLC Buys New Stake in Ares Capital Co. (NASDAQ:ARCC)

Avidian Wealth Enterprises LLC purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,646 shares of the investment management company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARCC. Cornerstone Wealth Management LLC grew its position in shares of Ares Capital by 7.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 30,749 shares of the investment management company’s stock valued at $644,000 after acquiring an additional 2,184 shares during the period. Teamwork Financial Advisors LLC acquired a new stake in Ares Capital in the third quarter valued at approximately $243,000. Secure Asset Management LLC increased its position in shares of Ares Capital by 35.3% in the third quarter. Secure Asset Management LLC now owns 14,704 shares of the investment management company’s stock valued at $308,000 after buying an additional 3,840 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its stake in shares of Ares Capital by 1.2% during the 3rd 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 during the period. Finally, Capital Investment Advisors LLC lifted its position in shares of Ares Capital by 6.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 34,672 shares of the investment management company’s stock valued at $726,000 after buying an additional 1,981 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ARCC. B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their target price on Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.94.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $23.27 on Friday. The company’s 50-day moving average is $22.48 and its two-hundred day moving average is $21.60. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 9.50 and a beta of 1.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.29. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84.

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

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.48 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.25%. Ares Capital’s dividend payout ratio (DPR) is currently 78.37%.

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.