Shares of Ares Capital Co. (NASDAQ:ARCC – Get Rating) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $21.88.
A number of analysts recently commented on ARCC shares. Oppenheimer dropped their price target on Ares Capital to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. JMP Securities decreased their price objective on Ares Capital from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Finally, StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th.
Ares Capital Stock Performance
Shares of Ares Capital stock opened at $17.84 on Friday. The business’s fifty day simple moving average is $19.68 and its 200 day simple moving average is $19.75. The firm has a market capitalization of $8.85 billion, a P/E ratio of 8.07 and a beta of 0.97. Ares Capital has a 12 month low of $17.03 and a 12 month high of $23.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.26.
Insiders Place Their Bets
In related news, CFO Penelope F. Roll purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average cost of $19.04 per share, for a total transaction of $47,600.00. Following the completion of the transaction, the chief financial officer now directly owns 54,500 shares in the company, valued at approximately $1,037,680. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Penelope F. Roll bought 2,500 shares of the stock in a transaction on Wednesday, September 14th. The shares were acquired at an average cost of $19.04 per share, for a total transaction of $47,600.00. Following the purchase, the chief financial officer now directly owns 54,500 shares of the company’s stock, valued at approximately $1,037,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Penelope F. Roll purchased 25,000 shares of Ares Capital stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $19.77 per share, with a total value of $494,250.00. Following the completion of the transaction, the chief financial officer now directly owns 52,000 shares in the company, valued at $1,028,040. The disclosure for this purchase can be found here. 0.59% of the stock is owned by corporate insiders.
Institutional Trading of Ares Capital
Institutional investors and hedge funds have recently modified their holdings of the business. Wagner Wealth Management LLC purchased a new position in shares of Ares Capital during the second quarter worth about $27,000. Financial Management Professionals Inc. increased its holdings in shares of Ares Capital by 70.7% in the 1st quarter. Financial Management Professionals Inc. now owns 1,775 shares of the investment management company’s stock worth $37,000 after buying an additional 735 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Ares Capital by 1,098.9% in the 2nd quarter. Larson Financial Group LLC now owns 2,098 shares of the investment management company’s stock worth $38,000 after buying an additional 1,923 shares during the last quarter. Hardy Reed LLC bought a new position in shares of Ares Capital in the 1st quarter worth $42,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of Ares Capital in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 33.79% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Ares Capital (ARCC)
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