Ares Capital Co. (NASDAQ:ARCC) Director Bates Ann Torre bought 9,725 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $17.61 per share, with a total value of $171,257.25. Following the purchase, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $422,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
ARCC stock traded up $0.18 on Friday, hitting $17.78. The company had a trading volume of 68,539 shares, compared to its average volume of 1,377,342. Ares Capital Co. has a 12-month low of $14.50 and a 12-month high of $18.07. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $7.52 billion, a P/E ratio of 10.58 and a beta of 0.65.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, April 30th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.06. Ares Capital had a net margin of 59.58% and a return on equity of 10.12%. The company had revenue of $373.00 million for the quarter, compared to analysts’ expectations of $337.96 million. During the same quarter last year, the company posted $0.57 earnings per share. As a group, equities analysts predict that Ares Capital Co. will post 1.79 earnings per share for the current year.
The business also recently announced a special dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.02 dividend. This represents a yield of 9.04%. The ex-dividend date is Friday, September 13th. Ares Capital’s dividend payout ratio is currently 95.24%.
A number of brokerages have weighed in on ARCC. BidaskClub raised shares of Ares Capital from a “hold” rating to a “buy” rating in a research note on Wednesday. Wedbush set a $20.00 target price on shares of Ares Capital and gave the company a “buy” rating in a research note on Tuesday. National Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Ares Capital in a research note on Wednesday, May 1st. Zacks Investment Research downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, JMP Securities raised their target price on shares of Ares Capital from $19.00 to $19.50 and gave the company a “market outperform” rating in a research note on Wednesday, February 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.25.
A number of hedge funds have recently modified their holdings of ARCC. Parallel Advisors LLC boosted its stake in shares of Ares Capital by 656.9% during the 1st quarter. Parallel Advisors LLC now owns 1,582 shares of the investment management company’s stock worth $27,000 after acquiring an additional 1,373 shares during the last quarter. Capital Financial Planning LLC purchased a new position in shares of Ares Capital during the 4th quarter worth $28,000. Lavaca Capital LLC purchased a new position in shares of Ares Capital during the 4th quarter worth $32,000. Howe & Rusling Inc. purchased a new position in shares of Ares Capital during the 1st quarter worth $33,000. Finally, Ffcm LLC boosted its stake in shares of Ares Capital by 53.4% during the 4th quarter. Ffcm LLC now owns 2,201 shares of the investment management company’s stock worth $34,000 after acquiring an additional 766 shares during the last quarter. Institutional investors own 39.15% of the company’s stock.
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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.
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