76,781 Shares in Ares Capital Corporation $ARCC Bought by Athena Wealth Management LLC

Athena Wealth Management LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the first quarter, HoldingsChannel.com reports. The firm bought 76,781 shares of the investment management company’s stock, valued at approximately $1,384,000. Ares Capital comprises about 1.1% of Athena Wealth Management LLC’s portfolio, making the stock its 15th largest position.

A number of other hedge funds also recently bought and sold shares of ARCC. AQR Capital Management LLC grew its position in shares of 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ares Capital during the 1st quarter worth about $273,000. Goldman Sachs Group Inc. boosted its stake in Ares Capital by 14.5% during 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 purchasing an additional 358,829 shares during the period. Empowered Funds LLC boosted its stake in Ares Capital by 139.9% during the 1st quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 16,128 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Ares Capital in the 1st quarter valued at approximately $14,766,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Trading Down 1.1%

ARCC stock opened at $17.84 on Tuesday. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $18.77 and its 200-day moving average is $19.26. The firm has a market cap of $12.81 billion, a P/E ratio of 10.94 and a beta of 0.56.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.8%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio is currently 117.79%.

Analysts Set New Price Targets

ARCC has been the subject of a number of research analyst reports. UBS Group cut their price target on Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Keefe, Bruyette & Woods lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. B. Riley Financial dropped their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Royal Bank Of Canada cut their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Eight 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, Ares Capital 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.