Providence Capital Advisors LLC Acquires 2,222 Shares of Ares Capital Co. (NASDAQ:ARCC)

Providence Capital Advisors LLC increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,394 shares of the investment management company’s stock after acquiring an additional 2,222 shares during the quarter. Providence Capital Advisors LLC’s holdings in Ares Capital were worth $2,807,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ARCC. ProShare Advisors LLC bought a new stake in shares of Ares Capital in the first quarter valued at $894,000. Jump Financial LLC raised its stake in shares of Ares Capital by 341.4% in the first quarter. Jump Financial LLC now owns 68,246 shares of the investment management company’s stock valued at $1,247,000 after buying an additional 52,783 shares during the period. BIP Wealth LLC bought a new stake in shares of Ares Capital in the first quarter valued at $238,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Ares Capital in the second quarter valued at $1,851,000. Finally, Pearl River Capital LLC raised its stake in shares of Ares Capital by 44.7% in the first quarter. Pearl River Capital LLC now owns 118,456 shares of the investment management company’s stock valued at $2,165,000 after buying an additional 36,617 shares during the period. 29.32% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Ares Capital stock traded up $0.02 during midday trading on Friday, hitting $19.65. 1,989,712 shares of the company’s stock were exchanged, compared to its average volume of 3,069,861. Ares Capital Co. has a 52-week low of $16.95 and a 52-week high of $20.17. The stock has a 50-day moving average price of $19.28 and a two-hundred day moving average price of $19.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $11.19 billion, a P/E ratio of 8.51 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, October 24th. The investment management company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Ares Capital had a return on equity of 12.78% and a net margin of 50.37%. The business had revenue of $655.00 million during the quarter, compared to analysts’ expectations of $655.14 million. During the same period in the previous year, the business earned $0.50 earnings per share. On average, equities research analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.77%. The ex-dividend date of this dividend is Thursday, December 14th. Ares Capital’s payout ratio is currently 83.12%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. B. Riley lifted their price target on Ares Capital from $20.50 to $21.00 in a research report on Wednesday, July 26th. Citigroup lifted their price target on Ares Capital from $20.00 to $21.00 in a research report on Wednesday, July 26th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of Ares Capital in a research report on Wednesday, July 26th. StockNews.com assumed coverage on Ares Capital in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on Ares Capital from $20.50 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

Ares Capital Company Profile

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.