Valley National Advisers Inc. Grows Stake in Ares Capital Co. (NASDAQ:ARCC)

Valley National Advisers Inc. boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 323.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,435 shares of the investment management company’s stock after purchasing an additional 1,096 shares during the quarter. Valley National Advisers Inc.’s holdings in Ares Capital were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new position in shares of Ares Capital in the 4th quarter valued at $25,000. Pingora Partners LLC purchased a new position in shares of Ares Capital in the 4th quarter valued at $30,000. First Horizon Advisors Inc. increased its holdings in shares of Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 931 shares during the period. Assetmark Inc. boosted its position in shares of Ares Capital by 218.7% in the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Activest Wealth Management boosted its position in shares of Ares Capital by 137.2% in the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after purchasing an additional 1,239 shares in the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of ARCC stock traded up $0.08 on Wednesday, hitting $20.96. The company had a trading volume of 1,336,444 shares, compared to its average volume of 3,535,077. The firm has a market cap of $12.88 billion, a P/E ratio of 7.18 and a beta of 1.01. The company has a 50-day moving average price of $21.04 and a 200-day moving average price of $20.53. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84.

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

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.16%. Ares Capital’s dividend payout ratio is presently 65.75%.

Analyst Ratings Changes

ARCC has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a research report on Tuesday, March 26th. JPMorgan Chase & Co. raised their price objective on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Oppenheimer lifted their price target on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

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.