Ares Capital Corporation $ARCC Shares Purchased by Obermeyer Wealth Partners

Obermeyer Wealth Partners lifted its position in Ares Capital Corporation (NASDAQ:ARCC) by 22.3% during the third quarter, HoldingsChannel.com reports. The fund owned 362,739 shares of the investment management company’s stock after purchasing an additional 66,038 shares during the period. Obermeyer Wealth Partners’ holdings in Ares Capital were worth $6,928,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in shares of Ares Capital during the 2nd quarter valued at about $25,000. Fortitude Family Office LLC increased its holdings in Ares Capital by 145.2% during the 3rd quarter. Fortitude Family Office LLC now owns 1,297 shares of the investment management company’s stock worth $25,000 after purchasing an additional 768 shares in the last quarter. Continuum Advisory LLC bought a new position in Ares Capital during the 2nd quarter worth about $30,000. TOP Private Wealth LLC. acquired a new stake in Ares Capital in the 2nd quarter valued at approximately $31,000. Finally, SHP Wealth Management acquired a new stake in shares of Ares Capital in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

ARCC stock opened at $18.40 on Thursday. The company has a 50 day simple moving average of $19.38 and a 200 day simple moving average of $18.99. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 13.63 and a beta of 0.61. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $21.14. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The business had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. During the same quarter in the prior year, the firm earned $0.50 EPS. Research analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date was Tuesday, September 15th. Ares Capital’s dividend payout ratio is presently 142.22%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ARCC. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. UBS Group raised their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Truist Financial dropped their price objective on Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods cut their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.39.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company primarily invests in first-lien senior secured loans, second-lien loans, subordinated debt, and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate activities.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management Corporation.