Apollon Wealth Management LLC Purchases 25,377 Shares of Ares Capital Co. (NASDAQ:ARCC)

Apollon Wealth Management LLC grew its holdings in Ares Capital Co. (NASDAQ:ARCC) by 27.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 116,291 shares of the investment management company’s stock after purchasing an additional 25,377 shares during the period. Apollon Wealth Management LLC’s holdings in Ares Capital were worth $2,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in Ares Capital by 2,104.7% in the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after purchasing an additional 3,449,395 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Ares Capital by 20.2% in the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after buying an additional 1,961,166 shares during the period. Cetera Investment Advisers lifted its stake in shares of Ares Capital by 143.9% in the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock valued at $17,081,000 after purchasing an additional 484,088 shares during the period. Magnolia Capital Advisors LLC bought a new position in shares of Ares Capital during the 2nd quarter worth approximately $9,815,000. Finally, 1832 Asset Management L.P. grew its position in shares of Ares Capital by 52.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock worth $28,192,000 after buying an additional 467,535 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ:ARCC opened at $21.54 on Thursday. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $22.05. The stock has a fifty day moving average of $21.06 and a 200 day moving average of $20.99. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 8.28 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts expect that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s payout ratio is 73.85%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARCC. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Compass Point upgraded Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, JMP Securities increased their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Four 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.86.

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.