Cyndeo Wealth Partners LLC Increases Holdings in Ares Capital Co. (NASDAQ:ARCC)

Cyndeo Wealth Partners LLC grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,148 shares of the investment management company’s stock after purchasing an additional 430 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Ares Capital were worth $419,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Horizon Financial Services LLC acquired a new stake in shares of Ares Capital during the third quarter worth about $28,000. Blue Trust Inc. increased its position in shares of Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after purchasing an additional 909 shares in the last quarter. Quarry LP acquired a new stake in shares of Ares Capital during the third quarter worth about $67,000. Centennial Bank AR acquired a new stake in shares of Ares Capital during the third quarter worth about $102,000. Finally, Avior Wealth Management LLC increased its position in Ares Capital by 19.6% in the 4th quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock valued at $107,000 after acquiring an additional 803 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $23.43 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50-day moving average of $22.12 and a two-hundred day moving average of $21.37. The stock has a market cap of $15.14 billion, a P/E ratio of 9.01 and a beta of 1.00. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.53.

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

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.48 per share. The ex-dividend date was Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.19%. Ares Capital’s payout ratio is 73.85%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. B. Riley boosted their price target 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, StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.29.

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.