WealthPlan Investment Management LLC Has $892,000 Position in Ares Capital Co. (NASDAQ:ARCC)

WealthPlan Investment Management LLC cut its holdings in Ares Capital Co. (NASDAQ:ARCC) by 23.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 40,769 shares of the investment management company’s stock after selling 12,593 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Ares Capital were worth $892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sage Advisors LLC increased its holdings in shares of Ares Capital by 5.9% during the 4th quarter. Sage Advisors LLC now owns 964,688 shares of the investment management company’s stock worth $21,117,000 after acquiring an additional 54,063 shares during the last quarter. Palacios Wealth Management LLC bought a new stake in shares of Ares Capital during the 4th quarter worth $646,000. Values Added Financial LLC lifted its position in shares of Ares Capital by 112.0% during the 4th quarter. Values Added Financial LLC now owns 27,980 shares of the investment management company’s stock worth $612,000 after buying an additional 14,780 shares during the last quarter. Bogart Wealth LLC raised its position in Ares Capital by 82.2% in the fourth quarter. Bogart Wealth LLC now owns 4,440 shares of the investment management company’s stock valued at $97,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Naples Global Advisors LLC raised its position in Ares Capital by 1.3% in the fourth quarter. Naples Global Advisors LLC now owns 59,385 shares of the investment management company’s stock valued at $1,300,000 after purchasing an additional 750 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARCC has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. B. Riley lifted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, StockNews.com cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Trading Up 0.8 %

ARCC stock opened at $23.27 on Friday. The company’s 50-day simple moving average is $22.48 and its 200-day simple moving average is $21.60. The firm has a market cap of $15.63 billion, a P/E ratio of 9.50 and a beta of 1.01. The company has a quick ratio of 1.29, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, equities analysts forecast that Ares Capital Co. will post 2.2 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.25%. Ares Capital’s dividend payout ratio (DPR) is 78.37%.

About Ares Capital

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.