Prospera Financial Services Inc Acquires New Position in Ares Capital Co. (NASDAQ:ARCC)

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Prospera Financial Services Inc acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCCGet Rating) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,492 shares of the investment management company’s stock, valued at approximately $115,000.

Several other large investors also recently bought and sold shares of the business. Sierra Capital LLC grew its stake in Ares Capital by 0.3% during the 4th quarter. Sierra Capital LLC now owns 159,812 shares of the investment management company’s stock valued at $3,386,000 after acquiring an additional 493 shares in the last quarter. Indie Asset Partners LLC grew its stake in Ares Capital by 4.1% during the 4th quarter. Indie Asset Partners LLC now owns 12,895 shares of the investment management company’s stock valued at $273,000 after acquiring an additional 510 shares in the last quarter. Private Wealth Strategies L.L.C. grew its stake in Ares Capital by 2.1% during the 1st quarter. Private Wealth Strategies L.L.C. now owns 27,105 shares of the investment management company’s stock valued at $568,000 after acquiring an additional 568 shares in the last quarter. Independent Wealth Network Inc. grew its stake in shares of Ares Capital by 2.3% in the 1st quarter. Independent Wealth Network Inc. now owns 28,109 shares of the investment management company’s stock valued at $589,000 after buying an additional 628 shares during the period. Finally, AllSquare Wealth Management LLC grew its stake in shares of Ares Capital by 2.3% in the 4th quarter. AllSquare Wealth Management LLC now owns 31,654 shares of the investment management company’s stock valued at $671,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 29.44% of the company’s stock.

Ares Capital Price Performance

Ares Capital stock opened at $19.94 on Friday. The firm has a market cap of $9.89 billion, a PE ratio of 9.02 and a beta of 0.99. Ares Capital Co. has a 52-week low of $17.03 and a 52-week high of $23.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average is $18.92 and its two-hundred day moving average is $20.22.

Ares Capital (NASDAQ:ARCCGet Rating) last released its earnings results on Tuesday, July 26th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Ares Capital had a net margin of 54.92% and a return on equity of 10.15%. During the same quarter last year, the firm posted $0.53 EPS. On average, research analysts expect that Ares Capital Co. will post 1.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ARCC. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. TheStreet cut shares of Ares Capital from a “b-” rating to a “c+” rating in a research note on Monday, May 23rd. JPMorgan Chase & Co. raised shares of Ares Capital from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Wednesday, April 27th. Wells Fargo & Company increased their price target on shares of Ares Capital from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Monday, April 25th. Finally, Hovde Group decreased their price objective on shares of Ares Capital to $19.00 in a report on Friday, May 20th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.88.

Insiders Place Their Bets

In other news, CFO Penelope F. Roll acquired 25,000 shares of Ares Capital stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $19.77 per share, for a total transaction of $494,250.00. Following the acquisition, the chief financial officer now owns 52,000 shares of the company’s stock, valued at $1,028,040. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Steven B. Mckeever acquired 2,775 shares of Ares Capital stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average cost of $17.95 per share, for a total transaction of $49,811.25. Following the acquisition, the director now owns 44,944 shares of the company’s stock, valued at $806,744.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Penelope F. Roll acquired 25,000 shares of Ares Capital stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $19.77 per share, for a total transaction of $494,250.00. Following the completion of the acquisition, the chief financial officer now directly owns 52,000 shares in the company, valued at approximately $1,028,040. The disclosure for this purchase can be found here. Insiders have acquired a total of 381,775 shares of company stock worth $6,875,621 in the last ninety days. 0.59% of the stock is owned by corporate insiders.

Ares Capital Company Profile

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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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