Copperwynd Financial LLC Acquires 8,442 Shares of Ares Capital Co. (NASDAQ:ARCC)

Copperwynd Financial LLC raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,818 shares of the investment management company’s stock after purchasing an additional 8,442 shares during the period. Ares Capital accounts for about 0.9% of Copperwynd Financial LLC’s holdings, making the stock its 22nd largest holding. Copperwynd Financial LLC’s holdings in Ares Capital were worth $2,760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ARCC. Jamison Private Wealth Management Inc. raised its holdings in shares of Ares Capital by 62.7% during the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares in the last quarter. Asset Dedication LLC bought a new position in Ares Capital in the 2nd quarter worth $26,000. Valley National Advisers Inc. lifted its position in shares of Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after purchasing an additional 1,096 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at about $32,000. Finally, nVerses Capital LLC increased its position in shares of Ares Capital by 88.9% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $20.91 on Friday. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 7.16 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Co. has a 1 year low of $18.55 and a 1 year high of $21.84. The firm’s 50-day moving average is $20.71 and its 200 day moving average is $20.78.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $755.00 million for 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 quarter in the prior year, the firm posted $0.58 earnings per share. Sell-side analysts anticipate that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

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

Analysts Set New Price Targets

ARCC has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. JMP Securities increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.71.

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.