Ares Capital (ARCC) Sees Unusually-High Trading Volume

Ares Capital Co. (NASDAQ:ARCC) shares saw an uptick in trading volume on Friday . 2,013,707 shares changed hands during trading, a decline of 10% from the previous session’s volume of 2,231,652 shares.The stock last traded at $15.79 and had previously closed at $15.88.

Several research firms recently weighed in on ARCC. TheStreet upgraded shares of Ares Capital from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Wedbush began coverage on shares of Ares Capital in a research note on Monday, November 27th. They set an “outperform” rating and a $18.00 price target on the stock. BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Compass Point began coverage on shares of Ares Capital in a research note on Wednesday, December 6th. They set a “buy” rating and a $17.50 price target on the stock. Finally, National Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $18.00.

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The stock has a market cap of $6,769.63, a P/E ratio of 10.01, a PEG ratio of 3.39 and a beta of 0.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.04 and a quick ratio of 1.04.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, February 13th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $307.00 million for the quarter, compared to the consensus estimate of $301.38 million. Ares Capital had a net margin of 57.50% and a return on equity of 8.43%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. equities research analysts expect that Ares Capital Co. will post 1.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.68%. The ex-dividend date of this dividend is Wednesday, March 14th. Ares Capital’s payout ratio is currently 96.82%.

In related news, CFO Penelope F. Roll bought 3,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $15.81 per share, with a total value of $47,430.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Arougheti bought 25,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was bought at an average cost of $15.60 per share, with a total value of $390,000.00. Following the transaction, the insider now directly owns 984,535 shares in the company, valued at approximately $15,358,746. The disclosure for this purchase can be found here. Insiders bought a total of 28,400 shares of company stock valued at $443,850 in the last three months. Insiders own 0.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Green Square Capital LLC increased its position in shares of Ares Capital by 2.2% in the 4th quarter. Green Square Capital LLC now owns 390,489 shares of the investment management company’s stock worth $6,138,000 after purchasing an additional 8,536 shares during the last quarter. Penbrook Management LLC bought a new stake in shares of Ares Capital in the 4th quarter worth about $236,000. Envestnet Asset Management Inc. increased its position in shares of Ares Capital by 20.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,752 shares of the investment management company’s stock worth $389,000 after purchasing an additional 4,144 shares during the last quarter. Intercontinental Wealth Advisors LLC increased its position in shares of Ares Capital by 68.5% in the 4th quarter. Intercontinental Wealth Advisors LLC now owns 97,819 shares of the investment management company’s stock worth $1,538,000 after purchasing an additional 39,780 shares during the last quarter. Finally, WealthPLAN Partners LLC increased its position in shares of Ares Capital by 49.4% in the 4th quarter. WealthPLAN Partners LLC now owns 82,577 shares of the investment management company’s stock worth $1,298,000 after purchasing an additional 27,292 shares during the last quarter. 42.67% of the stock is owned by institutional investors.

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Ares Capital Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

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