Tyche Wealth Partners LLC Purchases Shares of 29,073 Ares Capital Co. (NASDAQ:ARCC)

Tyche Wealth Partners LLC acquired a new stake in Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,073 shares of the investment management company’s stock, valued at approximately $582,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cedar Mountain Advisors LLC bought a new stake in shares of Ares Capital in the 3rd quarter worth $25,000. Point72 Asset Management L.P. grew its holdings in shares of Ares Capital by 100.8% in the second quarter. Point72 Asset Management L.P. now owns 1,426 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 181,426 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Ares Capital during the third quarter valued at approximately $29,000. Cape Investment Advisory Inc. lifted its holdings in shares of Ares Capital by 411.0% in the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after buying an additional 1,570 shares in the last quarter. Finally, Activest Wealth Management boosted its position in shares of Ares Capital by 137.2% in the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after acquiring an additional 1,239 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Up 0.7 %

NASDAQ ARCC traded up $0.15 during trading on Wednesday, hitting $20.39. 197,249 shares of the company’s stock traded hands, compared to its average volume of 3,636,025. The firm has a market cap of $12.37 billion, a P/E ratio of 7.58 and a beta of 1.00. The stock has a fifty day moving average of $20.29 and a two-hundred day moving average of $19.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24. Ares Capital Co. has a 12-month low of $17.53 and a 12-month high of $20.86.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The company had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $669.78 million. During the same period in the prior year, the business posted $0.68 EPS. Ares Capital’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.42%. Ares Capital’s dividend payout ratio is currently 71.91%.

Analysts Set New Price Targets

Several analysts have issued reports on ARCC shares. Wells Fargo & Company increased their target price on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Finally, B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.80.

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.