13,027 Shares in Ares Capital Co. (NASDAQ:ARCC) Purchased by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, HoldingsChannel reports. The firm bought 13,027 shares of the investment management company’s stock, valued at approximately $261,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Lafayette Investments Inc. lifted its stake in Ares Capital by 14.9% during the fourth quarter. Lafayette Investments Inc. now owns 23,080 shares of the investment management company’s stock worth $462,000 after purchasing an additional 3,000 shares during the period. Obermeyer Wood Investment Counsel Lllp lifted its stake in Ares Capital by 11.5% during the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 46,135 shares of the investment management company’s stock worth $924,000 after purchasing an additional 4,762 shares during the period. Sfmg LLC lifted its stake in Ares Capital by 2.6% during the fourth quarter. Sfmg LLC now owns 398,112 shares of the investment management company’s stock worth $7,974,000 after purchasing an additional 10,080 shares during the period. Tyche Wealth Partners LLC bought a new position in Ares Capital during the fourth quarter worth about $582,000. Finally, GraniteShares Advisors LLC bought a new position in Ares Capital during the fourth quarter worth about $1,476,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ARCC shares. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. B. Riley cut shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research note on Monday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Ares Capital has a consensus rating of “Hold” and an average price target of $20.80.

Ares Capital Stock Up 0.8 %

Shares of Ares Capital stock traded up $0.16 on Friday, reaching $20.58. 1,875,423 shares of the company were exchanged, compared to its average volume of 3,615,277. Ares Capital Co. has a one year low of $17.53 and a one year high of $20.86. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 7.70 and a beta of 1.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $20.30 and a 200 day moving average of $19.94.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $669.78 million. During the same period in the prior year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.33%. The ex-dividend date of this dividend was Thursday, March 14th. Ares Capital’s dividend payout ratio is 71.91%.

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.