IHT Wealth Management LLC Has $3.22 Million Position in Ares Capital Co. (NASDAQ:ARCC)

IHT Wealth Management LLC increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 147,120 shares of the investment management company’s stock after purchasing an additional 4,085 shares during the quarter. IHT Wealth Management LLC’s holdings in Ares Capital were worth $3,220,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in shares of Ares Capital by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock worth $309,649,000 after acquiring an additional 1,489,552 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company’s stock worth $93,439,000 after buying an additional 881,450 shares during the period. Generali Asset Management SPA SGR bought a new position in shares of Ares Capital during the fourth quarter worth about $84,426,000. Advisors Capital Management LLC raised its position in Ares Capital by 3.1% in the 4th quarter. Advisors Capital Management LLC now owns 3,523,651 shares of the investment management company’s stock valued at $77,133,000 after buying an additional 105,526 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Ares Capital during the 4th quarter worth approximately $58,159,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Trading Down 2.5 %

ARCC stock opened at $19.90 on Tuesday. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 8.12 and a beta of 0.77. The company has a fifty day moving average price of $21.79 and a two-hundred day moving average price of $21.95. Ares Capital Co. has a one year low of $18.26 and a one year high of $23.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Equities analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.48 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.65%. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. UBS Group reduced their price target on Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. StockNews.com cut Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.61.

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.