Wealth Alliance Advisory Group LLC Purchases 3,232 Shares of Ares Capital Co. (NASDAQ:ARCC)
Wealth Alliance Advisory Group LLC raised its position in Ares Capital Co. (NASDAQ:ARCC) by 24.7% during the first quarter, HoldingsChannel reports. The firm owned 16,330 shares of the investment management company’s stock after buying an additional 3,232 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Ares Capital were worth $289,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Investec Asset Management LTD purchased a new position in shares of Ares Capital during the 4th quarter worth about $20,921,000. 1832 Asset Management L.P. increased its position in Ares Capital by 98.0% during the 4th quarter. 1832 Asset Management L.P. now owns 2,633,100 shares of the investment management company’s stock worth $41,019,000 after purchasing an additional 1,303,034 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Ares Capital by 4,999,900.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 500,000 shares of the investment management company’s stock worth $7,789,000 after purchasing an additional 499,990 shares in the last quarter. LSV Asset Management increased its position in Ares Capital by 57.2% during the 1st quarter. LSV Asset Management now owns 1,071,765 shares of the investment management company’s stock worth $18,370,000 after purchasing an additional 390,100 shares in the last quarter. Finally, Millennium Management LLC increased its position in Ares Capital by 35.7% during the 4th quarter. Millennium Management LLC now owns 1,362,669 shares of the investment management company’s stock worth $21,230,000 after purchasing an additional 358,323 shares in the last quarter. Institutional investors own 37.62% of the company’s stock.
A number of research firms recently issued reports on ARCC. BidaskClub downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a research report on Friday. Wedbush set a $20.00 target price on shares of Ares Capital and gave the stock a “buy” rating in a research report on Tuesday, May 14th. National Securities reissued a “buy” rating and set a $20.00 target price on shares of Ares Capital in a research report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.25.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, April 30th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. Ares Capital had a net margin of 59.58% and a return on equity of 10.12%. The company had revenue of $373.00 million during the quarter, compared to the consensus estimate of $337.96 million. During the same quarter last year, the company earned $0.57 earnings per share. On average, equities analysts anticipate that Ares Capital Co. will post 1.79 earnings per share for the current year.
The company also recently disclosed a special dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.02 dividend. This represents a yield of 9.04%. The ex-dividend date of this dividend is Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is 95.24%.
In other news, Director Daniel G. Kelly, Jr. acquired 4,500 shares of the stock in a transaction on Monday, June 10th. The stock was bought at an average price of $18.01 per share, with a total value of $81,045.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven B. Mckeever acquired 5,640 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $17.52 per share, with a total value of $98,812.80. The disclosure for this purchase can be found here. Insiders acquired 20,465 shares of company stock valued at $361,523 in the last ninety days. 0.53% of the stock is owned by corporate insiders.
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Ares Capital 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.
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