Ares Capital (NASDAQ:ARCC) Given New $22.00 Price Target at Citizens Jmp

Ares Capital (NASDAQ:ARCC) had its target price decreased by Citizens Jmp from $23.00 to $22.00 in a research note published on Wednesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the investment management company’s stock.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Royal Bank Of Canada decreased their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. JPMorgan Chase & Co. lowered their price target on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. B. Riley Financial reiterated a “buy” rating on shares of Ares Capital in a research note on Monday, February 9th. Finally, UBS Group cut their price objective on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $21.13.

Ares Capital Price Performance

Ares Capital stock opened at $19.10 on Wednesday. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 10.27 and a beta of 0.58. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12. Ares Capital has a 12 month low of $17.40 and a 12 month high of $23.42. The stock’s 50 day moving average is $18.57 and its 200-day moving average is $19.63.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $793.00 million during the quarter, compared to analysts’ expectations of $795.20 million. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. Equities research analysts expect that Ares Capital will post 1.93 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date was Friday, March 13th. Ares Capital’s dividend payout ratio is presently 103.23%.

Insider Buying and Selling at Ares Capital

In other news, CEO Michael Kort Schnabel acquired 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $19.13 per share, with a total value of $239,125.00. Following the completion of the transaction, the chief executive officer directly owned 40,500 shares of the company’s stock, valued at $774,765. This trade represents a 44.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott C. Lem acquired 5,186 shares of Ares Capital stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $19.29 per share, for a total transaction of $100,037.94. Following the completion of the purchase, the chief financial officer directly owned 39,463 shares of the company’s stock, valued at approximately $761,241.27. This represents a 15.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Ares Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Canal Capital Management LLC lifted its holdings in shares of Ares Capital by 1.6% during the 4th quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock worth $667,000 after acquiring an additional 520 shares during the period. BKM Wealth Management LLC increased its stake in Ares Capital by 1.3% in the third quarter. BKM Wealth Management LLC now owns 42,394 shares of the investment management company’s stock valued at $865,000 after acquiring an additional 525 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in 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 valued at $213,000 after acquiring an additional 532 shares during the last quarter. Perigon Wealth Management LLC raised its position in 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 valued at $702,000 after purchasing an additional 547 shares in the last quarter. Finally, Balboa Wealth Partners lifted its stake in Ares Capital by 1.3% during the third quarter. Balboa Wealth Partners now owns 44,755 shares of the investment management company’s stock worth $913,000 after purchasing an additional 559 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Company Profile

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.