Kestra Private Wealth Services LLC Buys 1,325 Shares of Ares Capital Co. (NASDAQ:ARCC)

Kestra Private Wealth Services LLC lifted its stake in Ares Capital Co. (NASDAQ:ARCCGet Rating) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,025 shares of the investment management company’s stock after acquiring an additional 1,325 shares during the period. Kestra Private Wealth Services LLC’s holdings in Ares Capital were worth $1,048,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Confluence Investment Management LLC boosted its holdings in shares of Ares Capital by 0.7% in the first quarter. Confluence Investment Management LLC now owns 4,344,333 shares of the investment management company’s stock worth $91,013,000 after acquiring an additional 30,284 shares during the period. CCLA Investment Management Ltd raised its position in shares of Ares Capital by 16.1% in the first quarter. CCLA Investment Management Ltd now owns 3,722,916 shares of the investment management company’s stock worth $77,995,000 after buying an additional 516,711 shares in the last quarter. Legal & General Group Plc raised its position in shares of Ares Capital by 3.1% in the fourth quarter. Legal & General Group Plc now owns 3,142,677 shares of the investment management company’s stock worth $66,578,000 after buying an additional 94,700 shares in the last quarter. Enstar Group LTD raised its position in shares of Ares Capital by 5,266.8% in the first quarter. Enstar Group LTD now owns 3,129,652 shares of the investment management company’s stock worth $65,566,000 after buying an additional 3,071,337 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Ares Capital by 1.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,723,318 shares of the investment management company’s stock worth $57,706,000 after buying an additional 50,984 shares in the last quarter. 33.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ARCC shares. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. JMP Securities lowered their price target on Ares Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. TheStreet downgraded Ares Capital from a “b-” rating to a “c+” rating in a research report on Monday, May 23rd. Finally, Oppenheimer lowered their price target on Ares Capital to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.88.

Insider Buying and Selling

In other Ares Capital news, CFO Penelope F. Roll bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average cost of $19.04 per share, with a total value of $47,600.00. Following the completion of the purchase, the chief financial officer now directly owns 54,500 shares of the company’s stock, valued at $1,037,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Penelope F. Roll bought 25,000 shares of Ares Capital stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $19.77 per share, for a total transaction of $494,250.00. Following the acquisition, the chief financial officer now owns 52,000 shares of the company’s stock, valued at $1,028,040. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Penelope F. Roll bought 2,500 shares of Ares Capital stock in a transaction on Wednesday, September 14th. The shares were purchased at an average price of $19.04 per share, for a total transaction of $47,600.00. Following the acquisition, the chief financial officer now directly owns 54,500 shares in the company, valued at approximately $1,037,680. The disclosure for this purchase can be found here. 0.59% of the stock is owned by insiders.

Ares Capital Stock Down 0.7 %

Shares of NASDAQ:ARCC opened at $18.96 on Friday. The stock’s 50-day moving average price is $19.72 and its 200-day moving average price is $19.82. Ares Capital Co. has a 12-month low of $17.03 and a 12-month high of $23.00. The stock has a market capitalization of $9.41 billion, a P/E ratio of 8.58 and a beta of 0.97. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.26.

Ares Capital (NASDAQ:ARCCGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Ares Capital had a return on equity of 10.15% and a net margin of 54.92%. During the same quarter in the previous year, the company earned $0.53 EPS. On average, equities analysts anticipate that Ares Capital Co. will post 1.93 earnings per share for the current year.

About Ares Capital

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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