SeaCrest Wealth Management LLC Has $1.78 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

by · The Markets Daily

SeaCrest Wealth Management LLC lessened its holdings in Ares Capital Co. (NASDAQ:ARCC – Free Report) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,880 shares of the investment management company’s stock after selling 10,435 shares during the period. SeaCrest Wealth Management LLC’s holdings in Ares Capital were worth $1,777,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. raised its position in Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of Ares Capital by 1.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after purchasing an additional 499 shares during the period. Lewis Asset Management LLC lifted its stake in Ares Capital by 2.1% in the first quarter. Lewis Asset Management LLC now owns 24,805 shares of the investment management company’s stock valued at $516,000 after purchasing an additional 500 shares during the last quarter. JBR Co Financial Management Inc grew its holdings in Ares Capital by 1.5% during the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after purchasing an additional 500 shares during the period. Finally, Chapin Davis Inc. increased its position in Ares Capital by 2.2% in the first quarter. Chapin Davis Inc. now owns 22,966 shares of the investment management company’s stock worth $478,000 after buying an additional 501 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. UBS Group raised shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. JMP Securities increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

View Our Latest Research Report on ARCC

Ares Capital Price Performance

Shares of Ares Capital stock traded up $0.08 on Wednesday, reaching $21.49. The stock had a trading volume of 237,829 shares, compared to its average volume of 3,408,077. The business’s 50 day moving average is $20.79 and its two-hundred day moving average is $20.85. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 1 year low of $18.55 and a 1 year high of $21.84. The company has a market cap of $13.21 billion, a P/E ratio of 7.33 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC – Get Free Report) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same quarter in the prior year, the firm posted $0.58 EPS. As a group, research analysts anticipate that Ares Capital Co. will post 2.39 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.93%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s dividend payout ratio is 65.75%.

Ares Capital Company Profile

(Free Report)

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.

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