Roble Belko & Company Inc Takes $416,000 Position in Ares Capital Co. (NASDAQ:ARCC)

Roble Belko & Company Inc purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 20,000 shares of the investment management company’s stock, valued at approximately $416,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Nemes Rush Group LLC purchased a new position in shares of Ares Capital in the fourth quarter worth approximately $25,000. Pingora Partners LLC purchased a new position in shares of Ares Capital in the fourth quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its holdings in shares of Ares Capital by 93.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock worth $38,000 after buying an additional 931 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Ares Capital by 218.7% in the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after buying an additional 1,345 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in shares of Ares Capital by 137.2% in the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after buying an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of ARCC stock remained flat at $20.58 on Friday. 4,037,714 shares of the company were exchanged, compared to its average volume of 3,239,996. The stock’s 50-day simple moving average is $21.00 and its two-hundred day simple moving average is $20.49. Ares Capital Co. has a 1 year low of $18.00 and a 1 year high of $21.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $12.65 billion, a P/E ratio of 7.05 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $703.85 million. During the same period last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.33%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s payout ratio is 65.75%.

Analyst Ratings Changes

A number of equities research analysts have commented on ARCC shares. Truist Financial raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. JPMorgan Chase & Co. raised their target price on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Oppenheimer raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.