Independent Wealth Network Inc. Acquires 2,941 Shares of Ares Capital Co. (NASDAQ:ARCC)

Independent Wealth Network Inc. boosted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,505 shares of the investment management company’s stock after purchasing an additional 2,941 shares during the quarter. Independent Wealth Network Inc.’s holdings in Ares Capital were worth $1,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after acquiring an additional 3,449,395 shares during the last quarter. Van ECK Associates Corp raised its holdings in Ares Capital by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after buying an additional 975,045 shares during the period. CCLA Investment Management raised its holdings in Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock valued at $48,419,000 after buying an additional 531,305 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Ares Capital during the 2nd quarter valued at $9,815,000. Finally, Partners Group Holding AG raised its holdings in Ares Capital by 21.2% during the 3rd quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock valued at $37,428,000 after buying an additional 312,255 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. B. Riley increased their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.29.

Ares Capital Stock Up 0.0 %

Ares Capital stock opened at $23.38 on Thursday. The stock has a market capitalization of $15.11 billion, a PE ratio of 8.99 and a beta of 1.00. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.47. The business has a 50 day simple moving average of $22.04 and a 200-day simple moving average of $21.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. On average, analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.21%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital’s dividend payout ratio is presently 73.85%.

About Ares Capital

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.