Atomi Financial Group Inc. Buys 600 Shares of Ares Capital Co. (NASDAQ:ARCC)

Atomi Financial Group Inc. boosted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 43,342 shares of the investment management company’s stock after acquiring an additional 600 shares during the quarter. Atomi Financial Group Inc.’s holdings in Ares Capital were worth $902,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Tectonic Advisors LLC grew its position in Ares Capital by 9.5% in the 1st quarter. Tectonic Advisors LLC now owns 285,115 shares of the investment management company’s stock valued at $5,936,000 after purchasing an additional 24,785 shares during the period. Allen Investment Management LLC boosted its holdings in Ares Capital by 33.5% during the 1st quarter. Allen Investment Management LLC now owns 1,664,312 shares of the investment management company’s stock worth $34,651,000 after acquiring an additional 417,537 shares during the last quarter. PFG Advisors boosted its holdings in Ares Capital by 2.7% during the 1st quarter. PFG Advisors now owns 50,576 shares of the investment management company’s stock worth $1,053,000 after acquiring an additional 1,318 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its holdings in Ares Capital by 200.6% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 138,704 shares of the investment management company’s stock worth $2,888,000 after acquiring an additional 92,569 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Ares Capital by 206.7% during the 1st quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after acquiring an additional 37,412 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

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

Ares Capital Stock Performance

Ares Capital stock traded down $0.13 during midday trading on Monday, reaching $21.06. The stock had a trading volume of 2,342,697 shares, compared to its average volume of 3,486,066. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84. The firm’s 50-day moving average price is $21.10 and its 200 day moving average price is $20.60. The firm has a market capitalization of $12.94 billion, a PE ratio of 7.20 and a beta of 1.01. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99.

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

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.12%. The ex-dividend date of this dividend was Friday, June 14th. Ares Capital’s dividend payout ratio is currently 65.75%.

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.