Kavar Capital Partners Group LLC Has $4.94 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Kavar Capital Partners Group LLC grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 235,681 shares of the investment management company’s stock after purchasing an additional 11,548 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Ares Capital were worth $4,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. raised its position in shares of Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after buying an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Ares Capital in the second quarter valued at approximately $26,000. Valley National Advisers Inc. raised its position in shares of Ares Capital by 323.3% in the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after buying an additional 1,096 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital in the second quarter valued at approximately $32,000. Finally, nVerses Capital LLC raised its position in shares of Ares Capital by 88.9% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after buying an additional 800 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARCC has been the topic of a number of recent analyst reports. JMP Securities lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Compass Point raised Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. Finally, UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Three research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Stock Performance

Shares of ARCC stock opened at $21.58 on Friday. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 7.39 and a beta of 1.01. 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 business’s 50-day moving average price is $20.96 and its 200-day moving average price is $20.91. Ares Capital Co. has a 12 month low of $18.59 and a 12 month high of $21.84.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. During the same period last year, the company earned $0.58 EPS. Equities research analysts forecast that Ares Capital Co. will post 2.39 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.48 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.90%. Ares Capital’s dividend payout ratio is 65.75%.

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.