Cyndeo Wealth Partners LLC Acquires Shares of 18,718 Ares Capital Co. (NASDAQ:ARCC)

Cyndeo Wealth Partners LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,718 shares of the investment management company’s stock, valued at approximately $392,000.

Several other institutional investors also recently bought and sold shares of ARCC. RFG Advisory LLC increased its holdings in shares of Ares Capital by 10.2% in the first quarter. RFG Advisory LLC now owns 26,097 shares of the investment management company’s stock worth $543,000 after purchasing an additional 2,422 shares during the last quarter. Global Assets Advisory LLC raised its holdings in shares of Ares Capital by 2,049.3% during the 1st quarter. Global Assets Advisory LLC now owns 278,079 shares of the investment management company’s stock worth $5,790,000 after acquiring an additional 265,141 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Ares Capital by 5.4% during the 1st quarter. Sound Income Strategies LLC now owns 2,060,063 shares of the investment management company’s stock valued at $42,891,000 after acquiring an additional 105,277 shares during the last quarter. CIC Wealth LLC grew its holdings in shares of Ares Capital by 38.2% in the first quarter. CIC Wealth LLC now owns 19,282 shares of the investment management company’s stock valued at $401,000 after purchasing an additional 5,326 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in Ares Capital by 21.6% in the first quarter. Sunbelt Securities Inc. now owns 58,892 shares of the investment management company’s stock worth $1,226,000 after purchasing an additional 10,478 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Ares Capital stock opened at $21.72 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 7.44 and a beta of 1.01. The firm has a 50-day moving average of $20.86 and a two-hundred day moving average of $20.88. Ares Capital Co. has a 1 year low of $18.55 and a 1 year high of $21.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data 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 company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, research analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.48 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.84%. Ares Capital’s payout ratio is currently 65.75%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARCC. JMP Securities boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

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.