Kovack Advisors Inc. Has $632,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Kovack Advisors Inc. trimmed its position in Ares Capital Co. (NASDAQ:ARCC) by 18.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,341 shares of the investment management company’s stock after selling 7,060 shares during the period. Kovack Advisors Inc.’s holdings in Ares Capital were worth $632,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ARCC. PCG Wealth Advisors LLC bought a new position in shares of Ares Capital in the first quarter valued at $248,000. Taylor Frigon Capital Management LLC boosted its stake in shares of Ares Capital by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 84,055 shares of the investment management company’s stock valued at $1,750,000 after buying an additional 651 shares during the period. Valley National Advisers Inc. lifted its position in shares of Ares Capital by 323.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 1,096 shares during the period. Albion Financial Group UT grew its stake in Ares Capital by 4.8% during the first quarter. Albion Financial Group UT now owns 91,680 shares of the investment management company’s stock worth $1,909,000 after buying an additional 4,175 shares in the last quarter. Finally, MBM Wealth Consultants LLC increased its stake in Ares Capital by 2.9% in the first quarter. MBM Wealth Consultants LLC now owns 63,120 shares of the investment management company’s stock valued at $1,345,000 after acquiring an additional 1,777 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Up 0.4 %

Shares of NASDAQ:ARCC traded up $0.08 during midday trading on Thursday, reaching $20.96. The company’s stock had a trading volume of 1,336,444 shares, compared to its average volume of 3,562,108. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $21.04 and a 200-day moving average of $20.53. Ares Capital Co. has a 12-month low of $18.55 and a 12-month high of $21.84. The firm has a market capitalization of $12.88 billion, a P/E ratio of 7.18 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The business had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. Ares Capital’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts anticipate that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.16%. Ares Capital’s payout ratio is currently 65.75%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Oppenheimer increased their price target on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Truist Financial raised their price objective on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.