Ares Capital Co. (NASDAQ:ARCC) insider Michael J. Arougheti acquired 25,000 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were acquired at an average cost of $15.60 per share, for a total transaction of $390,000.00. Following the completion of the acquisition, the insider now owns 984,535 shares of the company’s stock, valued at $15,358,746. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Ares Capital Co. (NASDAQ ARCC) traded up $0.01 during trading on Friday, hitting $15.34. 4,415,962 shares of the stock were exchanged, compared to its average volume of 2,106,849. Ares Capital Co. has a 52-week low of $15.03 and a 52-week high of $17.70. The stock has a market capitalization of $6,641.74, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 3.32 and a beta of 0.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.04 and a current ratio of 1.04.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, February 13th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Ares Capital had a net margin of 57.50% and a return on equity of 8.43%. The firm had revenue of $307.00 million for the quarter, compared to the consensus estimate of $301.38 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. equities research analysts expect that Ares Capital Co. will post 1.56 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of Ares Capital by 4.3% in the third quarter. Ameriprise Financial Inc. now owns 5,732,052 shares of the investment management company’s stock worth $93,986,000 after buying an additional 236,468 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Ares Capital by 2.0% in the fourth quarter. Confluence Investment Management LLC now owns 5,144,529 shares of the investment management company’s stock worth $80,872,000 after buying an additional 102,683 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ares Capital by 118.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,600,653 shares of the investment management company’s stock worth $72,322,000 after buying an additional 2,494,297 shares in the last quarter. Yorktown Management & Research Co Inc lifted its holdings in shares of Ares Capital by 3.6% in the third quarter. Yorktown Management & Research Co Inc now owns 2,330,000 shares of the investment management company’s stock worth $38,189,000 after buying an additional 80,000 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Ares Capital by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 2,288,552 shares of the investment management company’s stock worth $35,976,000 after buying an additional 21,785 shares in the last quarter. 42.78% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on ARCC shares. Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Compass Point started coverage on shares of Ares Capital in a report on Wednesday, December 6th. They set a “buy” rating and a $17.50 price objective on the stock. Finally, Wedbush started coverage on shares of Ares Capital in a report on Monday, November 27th. They set an “outperform” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $18.00.
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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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