Sculati Wealth Management LLC Acquires 1,149 Shares of Ares Capital Co. (NASDAQ:ARCC)

Sculati Wealth Management LLC lifted its position in Ares Capital Co. (NASDAQ:ARCC) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 115,744 shares of the investment management company’s stock after purchasing an additional 1,149 shares during the period. Sculati Wealth Management LLC’s holdings in Ares Capital were worth $2,410,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ARCC. Van ECK Associates Corp grew its position in shares of Ares Capital by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after purchasing an additional 975,045 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of Ares Capital by 1.7% in the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after buying an additional 63,999 shares during the period. International Assets Investment Management LLC increased its position in shares of Ares Capital by 2,104.7% during the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after acquiring an additional 3,449,395 shares in the last quarter. LPL Financial LLC increased its position in shares of Ares Capital by 8.5% during the second quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock worth $72,778,000 after acquiring an additional 273,025 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in Ares Capital by 3.7% in the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock valued at $46,430,000 after acquiring an additional 79,074 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research note on Monday, December 2nd. B. Riley upped their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three investment 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.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital Price Performance

Ares Capital stock opened at $22.12 on Thursday. The stock has a fifty day moving average of $21.60 and a 200-day moving average of $21.12. The stock has a market capitalization of $14.29 billion, a P/E ratio of 8.51 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.43.

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

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.68%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio is currently 73.85%.

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.