Atria Wealth Solutions Inc. Has $831,000 Stock Holdings in Ares Capital Corporation $ARCC

Atria Wealth Solutions Inc. cut its stake in Ares Capital Corporation (NASDAQ:ARCC) by 74.0% during the second quarter, HoldingsChannel reports. The fund owned 37,713 shares of the investment management company’s stock after selling 107,498 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Ares Capital were worth $831,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of Ares Capital in the second quarter worth $877,203,000. Confluence Investment Management LLC increased its position in Ares Capital by 0.6% during the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock worth $83,378,000 after buying an additional 21,344 shares during the last quarter. Advisors Capital Management LLC increased its position in Ares Capital by 3.0% during the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock worth $80,396,000 after buying an additional 104,339 shares during the last quarter. LPL Financial LLC increased its position in Ares Capital by 9.0% during the first quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after buying an additional 293,442 shares during the last quarter. Finally, Allen Investment Management LLC grew its position in shares of Ares Capital by 8.4% in the first quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock valued at $65,930,000 after purchasing an additional 230,924 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Down 0.1%

Shares of ARCC opened at $19.51 on Friday. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 9.52 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The company has a 50-day moving average price of $21.33 and a two-hundred day moving average price of $21.53.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter in the prior year, the business earned $0.61 EPS. Equities analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.48 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.8%. Ares Capital’s payout ratio is 93.66%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. UBS Group reduced their target price on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

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.