Prevail Innovative Wealth Advisors LLC Purchases Shares of 70,047 Ares Capital Corporation $ARCC

Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 70,047 shares of the investment management company’s stock, valued at approximately $1,430,000.

Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Ares Capital by 6.5% during the 1st quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock valued at $365,000 after acquiring an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Ares Capital in the 1st quarter worth approximately $273,000. Goldman Sachs Group Inc. lifted its position in Ares Capital by 14.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock valued at $62,824,000 after purchasing an additional 358,829 shares during the last quarter. Empowered Funds LLC lifted its position in Ares Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 16,128 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Ares Capital during the first quarter valued at approximately $14,766,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of ARCC stock opened at $18.75 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.70 and a current ratio of 1.70. Ares Capital Corporation has a fifty-two week low of $18.17 and a fifty-two week high of $23.42. The firm has a market cap of $13.46 billion, a P/E ratio of 10.08 and a beta of 0.59. The business’s 50 day moving average price is $19.89 and its 200-day moving average price is $20.39.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The company had revenue of $793.00 million during the quarter, compared to the consensus estimate of $795.20 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.48 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.92 annualized dividend and a yield of 10.2%. Ares Capital’s dividend payout ratio is 103.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARCC. Wells Fargo & Company cut their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. B. Riley Financial reissued a “buy” rating on shares of Ares Capital in a research report on Monday, February 9th. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Royal Bank Of Canada decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Capital in a research note on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Buying and Selling at Ares Capital

In related news, CEO Michael Kort Schnabel purchased 12,500 shares of Ares Capital stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average price of $19.13 per share, for a total transaction of $239,125.00. Following the completion of the transaction, the chief executive officer directly owned 40,500 shares of the company’s stock, valued at $774,765. This represents a 44.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott C. Lem purchased 5,186 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was bought at an average cost of $19.29 per share, with a total value of $100,037.94. Following the completion of the purchase, the chief financial officer owned 39,463 shares of the company’s stock, valued at $761,241.27. This represents a 15.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.48% of the stock is currently owned by corporate insiders.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.