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

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 Trading Up 0.6%

Shares of Ares Capital stock opened at $18.89 on Tuesday. The firm has a market capitalization of $13.56 billion, a PE ratio of 11.59 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The firm’s 50 day moving average is $18.66 and its 200 day moving average is $18.94. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.12.

Ares Capital (NASDAQ:ARCC) last issued its 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 firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.Ares Capital’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. Equities research analysts forecast that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of Ares Capital

A number of institutional investors have recently bought and sold shares of ARCC. Strs Ohio acquired a new position in shares of Ares Capital in the 1st quarter valued at about $189,210,000. UBS Group AG boosted its holdings in shares of Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after buying an additional 3,301,890 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Ares Capital during the 3rd quarter worth approximately $36,943,000. Altshuler Shaham Ltd acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $33,380,000. Finally, Michael & Susan Dell Foundation acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $26,089,000. Institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ARCC shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Truist Financial lowered their target price on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Citizens Jmp reduced their price target on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

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.

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.