Bogart Wealth LLC Buys 1,993 Shares of Ares Capital Co. (NASDAQ:ARCC)

Bogart Wealth LLC raised its stake in Ares Capital Co. (NASDAQ:ARCC) by 451.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,434 shares of the investment management company’s stock after purchasing an additional 1,993 shares during the period. Bogart Wealth LLC’s holdings in Ares Capital were worth $49,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ARCC. Raymond James & Associates increased its stake in Ares Capital by 0.6% in the third quarter. Raymond James & Associates now owns 738,614 shares of the investment management company’s stock valued at $14,381,000 after acquiring an additional 4,110 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Ares Capital by 13.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 430,678 shares of the investment management company’s stock worth $8,385,000 after buying an additional 50,717 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Ares Capital during the third quarter valued at approximately $197,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ares Capital by 1.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,595 shares of the investment management company’s stock valued at $693,000 after purchasing an additional 587 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Ares Capital by 29.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 241,231 shares of the investment management company’s stock valued at $4,697,000 after purchasing an additional 55,386 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Up 0.6 %

Shares of ARCC stock traded up $0.12 during trading hours on Thursday, hitting $20.90. 683,507 shares of the company were exchanged, compared to its average volume of 3,501,506. The business has a 50 day moving average of $20.46 and a two-hundred day moving average of $20.11. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. Ares Capital Co. has a 52 week low of $18.00 and a 52 week high of $21.04. The company has a market capitalization of $12.70 billion, a PE ratio of 7.12 and a beta of 0.99.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. During the same period last year, the business posted $0.56 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts anticipate that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.19%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Wall Street Analyst Weigh In

ARCC has been the topic of several research analyst reports. Wells Fargo & Company increased their price target 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. Oppenheimer increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Truist Financial increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.43.

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.