Spire Wealth Management Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Spire Wealth Management increased its position in Ares Capital Co. (NASDAQ:ARCC) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,475 shares of the investment management company’s stock after purchasing an additional 1,263 shares during the quarter. Spire Wealth Management’s holdings in Ares Capital were worth $1,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its holdings in shares of Ares Capital by 1.4% in the fourth quarter. DAVENPORT & Co LLC now owns 295,967 shares of the investment management company’s stock worth $6,479,000 after acquiring an additional 4,141 shares during the period. KG&L Capital Management LLC bought a new stake in Ares Capital during the fourth quarter valued at about $203,000. Western Financial Corp CA grew its holdings in Ares Capital by 2.2% during the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after purchasing an additional 564 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of Ares Capital by 5.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock valued at $11,208,000 after acquiring an additional 25,347 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. lifted its position in shares of Ares Capital by 16.9% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 11,582 shares of the investment management company’s stock valued at $254,000 after acquiring an additional 1,672 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ARCC shares. Wells Fargo & Company boosted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. B. Riley upped their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price objective on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $23.80 on Tuesday. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 9.15 and a beta of 1.00. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The company has a 50-day simple moving average of $22.32 and a 200-day simple moving average of $21.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

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.