Rep. Pete Sessions Sells Ares Capital Corporation (NASDAQ:ARCC) Shares

Representative Pete Sessions (Republican-Texas) recently sold shares of Ares Capital Corporation (NASDAQ:ARCC). In a filing disclosed on July 24th, the Representative disclosed that they had sold between $1,001 and $15,000 in Ares Capital stock on July 24th. The trade occurred in the Representative’s “IRA ONE” account.

Ares Capital Stock Up 0.9%

ARCC traded up $0.17 during trading on Tuesday, hitting $19.05. 1,223,916 shares of the company’s stock were exchanged, compared to its average volume of 6,333,888. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a market cap of $13.68 billion, a P/E ratio of 11.70 and a beta of 0.56. The business’s 50 day moving average is $18.66 and its two-hundred day moving average is $18.94. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $22.93.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. As a group, equities analysts expect that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ARCC shares. Oppenheimer reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. B. Riley Financial cut their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Truist Financial lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.60.

Institutional Trading of Ares Capital

Several large investors have recently added to or reduced their stakes in ARCC. Roman Butler Fullerton & Co. grew its position in shares of Ares Capital by 1.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock worth $504,000 after buying an additional 528 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Ares Capital by 5.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock worth $213,000 after purchasing an additional 532 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Ares Capital by 1.6% during the fourth quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock worth $702,000 after acquiring an additional 547 shares in the last quarter. Diversify Advisory Services LLC grew its position in shares of Ares Capital by 2.0% during the 4th quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock valued at $589,000 after purchasing an additional 563 shares in the last quarter. Finally, CWS Financial Advisors LLC grew its holdings in shares of Ares Capital by 4.0% during the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 582 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

About Representative Sessions

Pete Sessions (Republican Party) is a member of the U.S. House, representing Texas’ 17th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Sessions (Republican Party) ran for re-election to the U.S. House to represent Texas’ 17th Congressional District. He won in the general election on November 5, 2024.

On October 20, 2023, Sessions announced he was running to replace Kevin McCarthy (R) as speaker of the U.S. House in the 118th Congress. Sessions lost the first round of nomination voting on October 24, 2023.

Pete Sessions was born and lives in Waco, Texas. Sessions earned a B.S. from Southwestern University in 1978. Sessions’ career experience includes working as an executive with AT&T.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.