Apollon Wealth Management LLC Purchases 25,377 Shares of Ares Capital Co. (NASDAQ:ARCC)

Apollon Wealth Management LLC lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 27.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 116,291 shares of the investment management company’s stock after purchasing an additional 25,377 shares during the quarter. Apollon Wealth Management LLC’s holdings in Ares Capital were worth $2,435,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ares Capital by 41.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,338 shares of the investment management company’s stock worth $548,000 after acquiring an additional 7,695 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Ares Capital by 19.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,990 shares of the investment management company’s stock worth $250,000 after purchasing an additional 1,966 shares during the last quarter. SG Americas Securities LLC boosted its position in Ares Capital by 206.7% during the first quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock valued at $1,156,000 after buying an additional 37,412 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Ares Capital by 4.9% during the first quarter. Avantax Advisory Services Inc. now owns 124,004 shares of the investment management company’s stock valued at $2,582,000 after buying an additional 5,811 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Ares Capital by 18.6% in the first quarter. ProShare Advisors LLC now owns 44,656 shares of the investment management company’s stock worth $930,000 after buying an additional 6,992 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of ARCC opened at $21.54 on Thursday. The company has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $20.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $13.92 billion, a PE ratio of 8.28 and a beta of 1.01. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.05.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is presently 73.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ARCC. Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Four 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.86.

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.