Shares of Ares Capital Corp. (NASDAQ:ARCC) have earned an average recommendation of “Buy” from the nine research firms that are presently covering the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $16.67.
A number of analysts have issued reports on ARCC shares. Jefferies Group reaffirmed a “buy” rating and issued a $17.50 target price on shares of Ares Capital Corp. in a report on Thursday, August 4th. JMP Securities raised their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Tuesday, August 9th. Zacks Investment Research lowered Ares Capital Corp. from a “hold” rating to a “sell” rating in a report on Monday, July 18th. National Securities started coverage on Ares Capital Corp. in a report on Tuesday, June 28th. They issued a “neutral” rating and a $16.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the company an “outperform” rating in a report on Thursday, August 4th.
Shares of Ares Capital Corp. (NASDAQ:ARCC) traded up 0.886% on Wednesday, reaching $15.365. The company had a trading volume of 837,720 shares. Ares Capital Corp. has a 12 month low of $12.31 and a 12 month high of $16.43. The company’s 50-day moving average is $15.64 and its 200 day moving average is $15.12.
Ares Capital Corp. (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Ares Capital Corp. had a return on equity of 9.44% and a net margin of 41.39%. During the same quarter last year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Ares Capital Corp. will post $1.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.38 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.98%. Ares Capital Corp.’s dividend payout ratio is currently 113.43%.
In related news, insider Mitchell S. Goldstein bought 6,472 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average price of $15.45 per share, for a total transaction of $99,992.40. Following the transaction, the insider now directly owns 195,358 shares of the company’s stock, valued at $3,018,281.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of ARCC. LGT Capital Partners LTD. bought a new position in Ares Capital Corp. during the second quarter valued at approximately $26,128,000. State of New Jersey Common Pension Fund D increased its position in Ares Capital Corp. by 137.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,900,000 shares of the investment management company’s stock valued at $26,980,000 after buying an additional 1,100,000 shares during the period. Toronto Dominion Bank increased its position in Ares Capital Corp. by 99.1% in the second quarter. Toronto Dominion Bank now owns 1,692,000 shares of the investment management company’s stock valued at $24,026,000 after buying an additional 842,000 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Ares Capital Corp. by 14.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 5,873,681 shares of the investment management company’s stock valued at $83,407,000 after buying an additional 719,550 shares during the period. Finally, Edge Asset Management Inc. increased its position in Ares Capital Corp. by 11.2% in the second quarter. Edge Asset Management Inc. now owns 2,820,874 shares of the investment management company’s stock valued at $40,057,000 after buying an additional 284,081 shares during the period. Institutional investors and hedge funds own 49.37% of the company’s stock.
About Ares Capital Corp.
Ares Capital Corporation is a specialty finance company that is 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. The Company invests primarily in the United States middle-market companies.
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