Ares Capital Corporation $ARCC Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in Ares Capital Corporation (NASDAQ:ARCC) by 398.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,055,150 shares of the investment management company’s stock after acquiring an additional 843,313 shares during the period. Apollon Wealth Management LLC’s holdings in Ares Capital were worth $19,014,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in Ares Capital by 6.5% in the first quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock valued at $365,000 after purchasing an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Ares Capital during the 1st quarter valued at about $273,000. Goldman Sachs Group Inc. grew its position in Ares Capital by 14.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock valued at $62,824,000 after acquiring an additional 358,829 shares in the last quarter. Empowered Funds LLC grew its position in Ares Capital by 139.9% in the 1st quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after acquiring an additional 16,128 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Ares Capital during the first quarter worth about $14,766,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of ARCC opened at $18.21 on Monday. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. The stock has a market capitalization of $13.08 billion, a PE ratio of 11.17 and a beta of 0.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50-day simple moving average of $18.73 and a 200-day simple moving average of $19.18.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same period last year, the business earned $0.50 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is presently 117.79%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARCC. Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Oppenheimer dropped their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Citizens Jmp reduced their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Truist Financial reduced their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada decreased their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.65.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.