CW Advisors LLC Raises Holdings in Ares Capital Corporation $ARCC

CW Advisors LLC increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 36.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 579,322 shares of the investment management company’s stock after buying an additional 155,477 shares during the quarter. CW Advisors LLC owned about 0.08% of Ares Capital worth $12,722,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Ares Capital in the second quarter worth $29,000. Elequin Capital LP bought a new stake in Ares Capital during the 1st quarter worth approximately $30,000. CNB Bank purchased a new position in shares of Ares Capital during the 2nd quarter valued at $36,000. Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital in the second quarter valued at about $38,000. Finally, Wolff Wiese Magana LLC purchased a new position in Ares Capital in the 2nd quarter worth approximately $40,000. Institutional investors own 27.38% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael Kort Schnabel acquired 13,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $20.39 per share, with a total value of $265,070.00. Following the purchase, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Ares Capital Price Performance

Shares of ARCC opened at $20.82 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 2.20. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The firm has a market capitalization of $14.90 billion, a PE ratio of 10.41 and a beta of 0.59. The company’s fifty day moving average price is $20.11 and its 200-day moving average price is $21.45.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.Ares Capital’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, equities research analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $0.48 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.2%. Ares Capital’s dividend payout ratio is presently 96.00%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank Of Canada decreased their price target on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company cut their price objective on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Capital One Financial set a $22.50 price target on Ares Capital in a report on Friday, October 10th. JPMorgan Chase & Co. decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Capital in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.25.

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.