Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by EWG Elevate Inc.

EWG Elevate Inc. increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.7% during the second quarter, HoldingsChannel.com reports. The fund owned 159,851 shares of the investment management company’s stock after buying an additional 5,771 shares during the period. Ares Capital accounts for about 1.2% of EWG Elevate Inc.’s holdings, making the stock its 28th largest holding. EWG Elevate Inc.’s holdings in Ares Capital were worth $3,004,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Ares Capital in the 1st quarter worth $27,000. Ridgewood Investments LLC purchased a new stake in shares of Ares Capital in the first quarter valued at about $37,000. ZRC Wealth Management LLC acquired a new stake in Ares Capital during the first quarter worth about $46,000. CVA Family Office LLC purchased a new position in Ares Capital during the second quarter worth about $48,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Ares Capital in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 29.32% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of recent analyst reports. B. Riley raised their price target on shares of Ares Capital from $20.50 to $21.00 in a report on Wednesday, July 26th. TheStreet raised shares of Ares Capital from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price objective on shares of Ares Capital in a research report on Wednesday, July 26th. StockNews.com began coverage on Ares Capital in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Citigroup increased their target price on Ares Capital from $20.00 to $21.00 in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Ares Capital Stock Performance

Shares of ARCC opened at $19.32 on Tuesday. Ares Capital Co. has a 1 year low of $16.53 and a 1 year high of $20.17. The stock has a market capitalization of $10.77 billion, a PE ratio of 11.72 and a beta of 1.00. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a 50-day simple moving average of $19.44 and a 200-day simple moving average of $18.77.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 25th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ares Capital had a net margin of 36.52% and a return on equity of 12.47%. The company had revenue of $634.00 million during the quarter, compared to the consensus estimate of $623.26 million. On average, analysts predict that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.94%. The ex-dividend date is Thursday, September 14th. Ares Capital’s dividend payout ratio (DPR) is presently 116.36%.

About Ares Capital

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.