Ares Capital Corporation $ARCC Shares Sold by Golden State Wealth Management LLC

Golden State Wealth Management LLC lessened its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 76.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,630 shares of the investment management company’s stock after selling 15,003 shares during the quarter. Golden State Wealth Management LLC’s holdings in Ares Capital were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ARCC. Fourth Dimension Wealth LLC acquired a new position in shares of Ares Capital in the 2nd quarter worth approximately $29,000. Elequin Capital LP purchased a new stake in Ares Capital in the first quarter valued at approximately $30,000. CNB Bank acquired a new position in Ares Capital during the second quarter worth $36,000. Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital during the second quarter worth $38,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of Ares Capital in the second quarter valued at $40,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ares Capital news, CEO Michael Kort Schnabel purchased 13,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $20.39 per share, with a total value of $265,070.00. Following the acquisition, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This represents a 86.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ARCC. UBS Group decreased their target price on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. B. Riley raised shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their price objective for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. JMP Securities set a $23.00 price objective on shares of Ares Capital and gave the company a “market outperform” rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Eight 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 company presently has an average rating of “Moderate Buy” and an average price target of $22.25.

Ares Capital Stock Up 1.0%

Shares of NASDAQ:ARCC opened at $20.20 on Friday. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The firm’s 50 day moving average price is $20.68 and its 200 day moving average price is $21.55. The company has a quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 10.10 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $766.48 million. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio is 96.00%.

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.