Ares Capital Corporation $ARCC Shares Bought by Obermeyer Wealth Partners

Obermeyer Wealth Partners lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 117.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,159 shares of the investment management company’s stock after purchasing an additional 200,303 shares during the quarter. Obermeyer Wealth Partners owned about 0.05% of Ares Capital worth $7,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARCC. City Holding Co. boosted its holdings in shares of Ares Capital by 444.4% in the third quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Ares Capital in the 2nd quarter valued at approximately $29,000. CNB Bank purchased a new stake in Ares Capital in the 2nd quarter valued at approximately $36,000. WFA of San Diego LLC acquired a new position in Ares Capital during the 2nd quarter worth approximately $36,000. Finally, Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital during the 2nd quarter worth approximately $38,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Ares Capital stock opened at $20.48 on Wednesday. The firm has a fifty day moving average of $20.34 and a 200-day moving average of $21.16. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $14.66 billion, a P/E ratio of 10.24 and a beta of 0.58.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

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

Insiders Place Their Bets

In other Ares Capital news, CEO Michael Kort Schnabel bought 13,000 shares of Ares Capital stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the purchase, the chief executive officer owned 28,000 shares in the company, valued at $570,920. This represents a 86.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARCC shares. JPMorgan Chase & Co. reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Keefe, Bruyette & Woods dropped their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. UBS Group reduced their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada cut their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

About Ares Capital

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.