Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,775 shares of the investment management company’s stock after purchasing an additional 5,433 shares during the period. Atomi Financial Group Inc.’s holdings in Ares Capital were worth $1,016,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in Ares Capital by 5.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 582,578 shares of the investment management company’s stock worth $12,129,000 after acquiring an additional 29,671 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Ares Capital by 5.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock worth $7,913,000 after acquiring an additional 20,202 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Ares Capital by 614.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,198 shares of the investment management company’s stock worth $144,000 after acquiring an additional 6,191 shares during the last quarter. Gilbert & Cook Inc. raised its position in Ares Capital by 6.6% during the fourth quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock worth $27,737,000 after acquiring an additional 85,561 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new position in Ares Capital during the first quarter worth about $86,227,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. Oppenheimer boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JMP Securities boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Finally, Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Stock Up 0.5 %

Shares of ARCC stock traded up $0.11 on Tuesday, hitting $21.08. The stock had a trading volume of 2,133,690 shares, compared to its average volume of 3,421,296. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 7.18 and a beta of 1.01. The stock’s 50 day moving average is $20.79 and its 200-day moving average is $20.71. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.63 and a current ratio of 1.40. Ares Capital Co. has a 52-week low of $18.55 and a 52-week high of $21.84.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period in the prior year, the firm earned $0.58 earnings per share. As a group, research analysts expect that Ares Capital Co. will post 2.38 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.48 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.92 annualized dividend and a yield of 9.11%. Ares Capital’s dividend payout ratio is presently 65.75%.

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.