Willingdon Wealth Management Increases Stake in Ares Capital Co. (NASDAQ:ARCC)

Willingdon Wealth Management increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 121,209 shares of the investment management company’s stock after purchasing an additional 1,597 shares during the period. Willingdon Wealth Management’s holdings in Ares Capital were worth $2,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wedbush Securities Inc. increased its position in shares of Ares Capital by 4.3% in the 2nd quarter. Wedbush Securities Inc. now owns 135,130 shares of the investment management company’s stock valued at $2,424,000 after purchasing an additional 5,543 shares during the last quarter. Merriman Wealth Management LLC increased its position in shares of Ares Capital by 4.6% in the 2nd quarter. Merriman Wealth Management LLC now owns 23,502 shares of the investment management company’s stock valued at $423,000 after purchasing an additional 1,029 shares during the last quarter. American Asset Management Inc. increased its position in shares of Ares Capital by 2.3% in the 2nd quarter. American Asset Management Inc. now owns 44,061 shares of the investment management company’s stock valued at $790,000 after purchasing an additional 986 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $27,000. Finally, Cutter & CO Brokerage Inc. purchased a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $972,000. 37.42% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on ARCC. BMO Capital Markets set a $19.00 price objective on shares of Ares Capital and gave the company a “hold” rating in a research report on Wednesday, July 31st. BidaskClub raised shares of Ares Capital from a “hold” rating to a “buy” rating in a research report on Friday. Wedbush set a $20.00 target price on shares of Ares Capital and gave the company a “buy” rating in a report on Tuesday, May 14th. Zacks Investment Research cut shares of Ares Capital from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, National Securities restated a “buy” rating and issued a $20.00 target price on shares of Ares Capital in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $19.25.



Shares of Ares Capital stock traded up $0.20 during trading hours on Tuesday, hitting $18.54. The company had a trading volume of 1,166,224 shares, compared to its average volume of 1,570,912. The company’s 50-day moving average price is $18.19. Ares Capital Co. has a twelve month low of $14.50 and a twelve month high of $18.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $7.93 billion, a P/E ratio of 11.04 and a beta of 0.61.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The business had revenue of $382.00 million during the quarter, compared to analysts’ expectations of $363.60 million. During the same quarter in the prior year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts expect that Ares Capital Co. will post 1.85 earnings per share for the current fiscal year.

In related news, Director Bates Ann Torre bought 9,725 shares of the stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $17.61 per share, for a total transaction of $171,257.25. Following the acquisition, the director now owns 24,000 shares in the company, valued at approximately $422,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel G. Kelly, Jr. purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $18.44 per share, with a total value of $110,640.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 22,625 shares of company stock valued at $406,816. Company insiders own 0.53% of the company’s stock.

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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