Kingswood Wealth Advisors LLC Purchases 102,143 Shares of Ares Capital Corporation $ARCC

Kingswood Wealth Advisors LLC grew its position in Ares Capital Corporation (NASDAQ:ARCC) by 313.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,710 shares of the investment management company’s stock after acquiring an additional 102,143 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Ares Capital were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC raised its stake in Ares Capital by 145.2% during the third quarter. Fortitude Family Office LLC now owns 1,297 shares of the investment management company’s stock worth $25,000 after acquiring an additional 768 shares during the period. Orion Capital Management LLC bought a new position in Ares Capital in the second quarter worth about $25,000. Continuum Advisory LLC acquired a new position in Ares Capital in the second quarter valued at approximately $30,000. TOP Private Wealth LLC. acquired a new stake in Ares Capital in the second quarter worth $31,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Ares Capital in the 2nd quarter worth about $50,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $18.61 on Tuesday. The stock has a market cap of $13.36 billion, a PE ratio of 13.79 and a beta of 0.61. The business has a fifty day simple moving average of $19.30 and a 200-day simple moving average of $19.07. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $21.14.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%. The business had revenue of $768.00 million during the quarter, compared to analyst estimates of $770.19 million. During the same period last year, the company earned $0.50 earnings per share. On average, sell-side analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.48 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.3%. Ares Capital’s payout ratio is currently 142.22%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ARCC shares. JPMorgan Chase & Co. decreased their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Keefe, Bruyette & Woods cut their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. UBS Group lifted their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.39.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company primarily invests in first-lien senior secured loans, second-lien loans, subordinated debt, and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate activities.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management Corporation.