Kingswood Wealth Advisors LLC Boosts Holdings in Ares Capital Co. (NASDAQ:ARCC)

Kingswood Wealth Advisors LLC raised its stake in Ares Capital Co. (NASDAQ:ARCC) by 94.1% during the fourth quarter, Holdings Channel reports. The fund owned 31,883 shares of the investment management company’s stock after buying an additional 15,453 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Ares Capital were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cyndeo Wealth Partners LLC lifted its stake in Ares Capital by 2.3% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock worth $419,000 after purchasing an additional 430 shares in the last quarter. JBR Co Financial Management Inc raised its position in shares of Ares Capital by 1.5% in the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after buying an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after buying an additional 531 shares during the period. Centaurus Financial Inc. grew its position in Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after buying an additional 542 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in Ares Capital by 1.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after acquiring an additional 567 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Performance

Ares Capital stock opened at $23.18 on Thursday. The firm has a fifty day simple moving average of $22.21 and a two-hundred day simple moving average of $21.41. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.56. The company has a market capitalization of $14.98 billion, a PE ratio of 8.92 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $755.00 million for 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 company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Research analysts expect that Ares Capital Co. will post 2.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ARCC shares. B. Riley boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $22.43.

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.