EWG Elevate Inc. Acquires 1,618 Shares of Ares Capital Co. (NASDAQ:ARCC)

EWG Elevate Inc. grew its holdings in Ares Capital Co. (NASDAQ:ARCCFree Report) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 142,544 shares of the investment management company’s stock after buying an additional 1,618 shares during the quarter. Ares Capital makes up 1.2% of EWG Elevate Inc.’s portfolio, making the stock its 23rd largest position. EWG Elevate Inc.’s holdings in Ares Capital were worth $2,985,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ARCC. Jamison Private Wealth Management Inc. boosted its position in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after purchasing an additional 475 shares during the last quarter. Asset Dedication LLC acquired a new position in shares of Ares Capital during the 2nd quarter worth about $26,000. Valley National Advisers Inc. increased its stake in shares of Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 1,096 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Ares Capital in the 2nd quarter valued at about $32,000. Finally, nVerses Capital LLC raised its position in shares of Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 800 shares during the period. 27.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARCC. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. JMP Securities raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.71.

Check Out Our Latest Analysis on ARCC

Ares Capital Stock Down 0.1 %

Shares of Ares Capital stock traded down $0.03 during trading hours on Monday, reaching $21.02. 2,004,055 shares of the company’s stock were exchanged, compared to its average volume of 3,453,907. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $20.71 and a two-hundred day moving average of $20.82. The stock has a market cap of $12.92 billion, a P/E ratio of 7.20 and a beta of 1.01. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84.

Ares Capital (NASDAQ:ARCCGet Free Report) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period last year, the business posted $0.58 EPS. On average, sell-side analysts forecast that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.13%. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

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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