Avantax Advisory Services Inc. Has $2.32 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Avantax Advisory Services Inc. grew its position in Ares Capital Co. (NASDAQ:ARCC) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,866 shares of the investment management company’s stock after purchasing an additional 2,629 shares during the period. Avantax Advisory Services Inc.’s holdings in Ares Capital were worth $2,317,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Horizon Financial Services LLC acquired a new position in Ares Capital in the 3rd quarter worth about $28,000. Promus Capital LLC acquired a new position in Ares Capital in the 4th quarter worth about $48,000. SRS Capital Advisors Inc. acquired a new position in Ares Capital in the 4th quarter worth about $60,000. Montag A & Associates Inc. increased its position in Ares Capital by 92.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in Ares Capital by 200.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock worth $66,000 after purchasing an additional 2,000 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $21.28 on Monday. The business has a 50 day moving average price of $22.88 and a 200 day moving average price of $21.91. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 8.69 and a beta of 1.00. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. Research analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.02%. Ares Capital’s dividend payout ratio is currently 78.37%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARCC shares. StockNews.com lowered Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price objective on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.94.

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.