Ares Capital Co. (NASDAQ:ARCC) Stock Position Lifted by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC grew its position in Ares Capital Co. (NASDAQ:ARCC) by 10.0% in the second quarter, Holdings Channel.com reports. The fund owned 165,289 shares of the investment management company’s stock after buying an additional 15,084 shares during the period. Clear Creek Financial Management LLC’s holdings in Ares Capital were worth $3,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. abrdn plc raised its stake in Ares Capital by 35.5% during the fourth quarter. abrdn plc now owns 41,177 shares of the investment management company’s stock worth $825,000 after acquiring an additional 10,795 shares during the period. Signaturefd LLC lifted its holdings in shares of Ares Capital by 20.6% in the 4th quarter. Signaturefd LLC now owns 9,355 shares of the investment management company’s stock worth $187,000 after purchasing an additional 1,598 shares during the last quarter. CWM LLC lifted its holdings in shares of Ares Capital by 28.9% in the 4th quarter. CWM LLC now owns 116,731 shares of the investment management company’s stock worth $2,338,000 after purchasing an additional 26,190 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in Ares Capital by 11.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 36,917 shares of the investment management company’s stock valued at $739,000 after purchasing an additional 3,930 shares during the period. Finally, Atria Wealth Solutions Inc. grew its stake in Ares Capital by 1.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 118,885 shares of the investment management company’s stock worth $2,381,000 after buying an additional 2,052 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

NASDAQ:ARCC traded up $0.01 during midday trading on Friday, hitting $20.92. 3,479,508 shares of the stock were exchanged, compared to its average volume of 3,427,063. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 7.16 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.63 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a one year low of $18.55 and a one year high of $21.84. The business has a 50-day moving average price of $20.78 and a two-hundred day moving average price of $20.70.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period last year, the firm earned $0.58 EPS. Sell-side analysts predict that Ares Capital Co. will post 2.38 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.18%. The ex-dividend date of this dividend is Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of recent research reports. JMP Securities raised their target price on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Truist Financial boosted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, five 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 $21.71.

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.