EWG Elevate Inc. Grows Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

EWG Elevate Inc. raised its stake in Ares Capital Co. (NASDAQ:ARCCFree Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,633 shares of the investment management company’s stock after buying an additional 5,089 shares during the period. Ares Capital makes up approximately 1.0% of EWG Elevate Inc.’s holdings, making the stock its 29th largest holding. EWG Elevate Inc.’s holdings in Ares Capital were worth $3,232,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JBR Co Financial Management Inc grew its position in shares of Ares Capital by 1.5% in the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after purchasing an additional 500 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after buying an additional 531 shares during the last quarter. Centaurus Financial Inc. increased its position in Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after buying an additional 542 shares in the last quarter. Western Financial Corp CA raised its holdings in shares of Ares Capital by 2.3% in the third quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company’s stock worth $541,000 after acquiring an additional 579 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Ares Capital by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock valued at $227,000 after acquiring an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, B. Riley boosted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.29.

Check Out Our Latest Report on Ares Capital

Ares Capital Stock Performance

NASDAQ:ARCC opened at $21.98 on Monday. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.43. The stock has a market cap of $14.20 billion, a P/E ratio of 8.45 and a beta of 1.00. 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 $21.79 and a two-hundred day moving average of $21.23.

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

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.74%. The ex-dividend date was Friday, December 13th. Ares Capital’s payout ratio is currently 73.85%.

About Ares Capital

(Free Report)

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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