BKM Wealth Management LLC Buys 2,096 Shares of Ares Capital Co. (NASDAQ:ARCC)

BKM Wealth Management LLC increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,261 shares of the investment management company’s stock after acquiring an additional 2,096 shares during the period. BKM Wealth Management LLC’s holdings in Ares Capital were worth $817,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dark Forest Capital Management LP bought a new stake in Ares Capital in the third quarter valued at approximately $369,000. O Shaughnessy Asset Management LLC raised its stake in Ares Capital by 31.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 19,438 shares of the investment management company’s stock valued at $378,000 after buying an additional 4,641 shares during the period. Qube Research & Technologies Ltd raised its stake in Ares Capital by 68.7% in the third quarter. Qube Research & Technologies Ltd now owns 449,212 shares of the investment management company’s stock valued at $8,746,000 after buying an additional 182,949 shares during the period. Advisors Asset Management Inc. raised its stake in Ares Capital by 3.6% in the third quarter. Advisors Asset Management Inc. now owns 367,212 shares of the investment management company’s stock valued at $7,150,000 after buying an additional 12,597 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in Ares Capital by 0.6% in the third quarter. Evergreen Capital Management LLC now owns 504,173 shares of the investment management company’s stock valued at $9,816,000 after buying an additional 2,840 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Down 0.5 %

Shares of ARCC stock traded down $0.11 during mid-day trading on Monday, hitting $20.73. The company’s stock had a trading volume of 1,406,651 shares, compared to its average volume of 3,553,419. The company’s fifty day simple moving average is $21.03 and its 200-day simple moving average is $20.51. Ares Capital Co. has a 52 week low of $18.55 and a 52 week high of $21.84. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $12.74 billion, a PE ratio of 7.11 and a beta of 1.00.

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

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders 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 9.26%. Ares Capital’s dividend payout ratio is presently 65.75%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Oppenheimer upped their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a research report on Tuesday, March 26th. Truist Financial upped their target price on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Ares Capital Company 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.