Gateway Wealth Partners LLC Has $4.85 Million Stock Holdings in Ares Capital Corporation $ARCC

Gateway Wealth Partners LLC boosted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 111.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,136 shares of the investment management company’s stock after purchasing an additional 141,844 shares during the period. Gateway Wealth Partners LLC’s holdings in Ares Capital were worth $4,850,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Ares Capital during the first quarter worth $189,210,000. UBS Group AG boosted its holdings in shares of Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after acquiring an additional 3,301,890 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Ares Capital during the 3rd quarter valued at $36,943,000. Altshuler Shaham Ltd bought a new stake in Ares Capital during the 4th quarter worth $33,380,000. Finally, Michael & Susan Dell Foundation bought a new stake in Ares Capital during the 4th quarter worth $26,089,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Up 0.6%

NASDAQ:ARCC opened at $18.89 on Tuesday. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.12. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s fifty day moving average is $18.66 and its 200-day moving average is $18.94. The firm has a market cap of $13.56 billion, a P/E ratio of 11.59 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $763.00 million for 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%.Ares Capital’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Equities analysts expect that Ares Capital Corporation will post 1.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on ARCC shares. B. Riley Financial dropped their target price on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Royal Bank Of Canada reduced their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Finally, Truist Financial dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus price target 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.