Left Brain Wealth Management LLC Purchases 31,890 Shares of Ares Capital Co. (NASDAQ:ARCC)

Left Brain Wealth Management LLC raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 83.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 70,275 shares of the investment management company’s stock after buying an additional 31,890 shares during the quarter. Left Brain Wealth Management LLC’s holdings in Ares Capital were worth $1,538,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Cyndeo Wealth Partners LLC raised its stake in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after buying an additional 430 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Ares Capital by 0.9% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock valued at $1,230,000 after buying an additional 512 shares during the last quarter. Western Financial Corp CA raised its stake in Ares Capital by 2.2% during the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after buying an additional 564 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after buying an additional 567 shares during the last quarter. Finally, Tyche Wealth Partners LLC raised its stake in Ares Capital by 3.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock valued at $360,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 1.4 %

Ares Capital stock opened at $21.44 on Friday. The stock has a market cap of $14.40 billion, a PE ratio of 8.75 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The stock has a fifty day moving average of $22.91 and a 200 day moving average of $21.89.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, sell-side analysts predict that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.96%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 78.37%.

Analyst Ratings Changes

A number of research analysts have issued reports on ARCC shares. Keefe, Bruyette & Woods lifted their price objective on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company decreased their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price target on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com cut Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $22.94.

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.