Mirador Capital Partners LP Increases Position in Ares Capital Co. (NASDAQ:ARCC)

Mirador Capital Partners LP increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,752 shares of the investment management company’s stock after purchasing an additional 9,750 shares during the quarter. Ares Capital makes up 0.9% of Mirador Capital Partners LP’s holdings, making the stock its 27th largest position. Mirador Capital Partners LP’s holdings in Ares Capital were worth $4,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ARCC. Nemes Rush Group LLC purchased a new stake in shares of Ares Capital during the fourth quarter valued at about $25,000. Pingora Partners LLC acquired a new position in Ares Capital during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. raised its stake in Ares Capital by 93.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after buying an additional 931 shares during the last quarter. Assetmark Inc. boosted its holdings in Ares Capital by 218.7% in the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Activest Wealth Management increased its holdings in shares of Ares Capital by 137.2% during the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after acquiring an additional 1,239 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

NASDAQ:ARCC traded down $0.01 during trading hours on Monday, reaching $20.83. The company had a trading volume of 202,524 shares, compared to its average volume of 3,543,786. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. Ares Capital Co. has a 1-year low of $18.55 and a 1-year high of $21.84. The business’s 50 day moving average price is $21.03 and its 200-day moving average price is $20.51. The firm has a market cap of $12.80 billion, a PE ratio of 7.16 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $703.85 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts forecast that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.22%. Ares Capital’s dividend payout ratio is presently 65.75%.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Oppenheimer increased their price objective on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Thursday, May 23rd. Truist Financial increased their price target 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. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.