Recently, several big investors have adjusted their holdings in Ares Capital (ARCC). Jamison Private Wealth Management increased its stake by 62.7%, now owning 1,233 shares worth $26,000 after buying 475 more. Asset Dedication LLC also bought into Ares with an investment of $26,000. Valley National Advisers grew its position by 323.3%, owning 1,435 shares valued at $29,000 after acquiring 1,096 shares. Hobbs Group Advisors and nVerses Capital also added shares, bringing nVerses’ total to 1,700 shares valued at $35,000. Overall, institutional investors hold 27.38% of the stock.
Ares Capital Trading Up 0.3%
Ares Capital (NASDAQ: ARCC) saw its stock rise by $0.07 to $21.08 on Thursday, with a trading volume of 1,893,385 shares. The company has a market cap of $12.95 billion and a price-to-earnings ratio of 7.22. Its stock has varied between a low of $18.55 and a high of $21.84 over the past year.
Ares Capital recently reported earnings of $0.61 per share for the quarter, exceeding estimates of $0.58. The company had a revenue of $755 million, surpassing the predicted $714.27 million. Analysts expect 2.39 EPS for the fiscal year.
Ares Capital Announces Dividend
A quarterly dividend of $0.48 per share was paid on September 30th to investors recorded on September 13th, resulting in an annual yield of 9.11% with a payout ratio of 65.75%.
Analysts Set New Price Targets
Several analysts have issued new ratings: Royal Bank of Canada set a target price of $22.00, while Compass Point rated it as a “strong buy.” The consensus among analysts is a “Moderate Buy” with a target price of $21.71.
Ares Capital Profile
Ares Capital Corporation specializes in financing middle market companies through acquisitions, restructurings, and growth capital investments in various sectors, including manufacturing and IT services.
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