Ares Capital (NASDAQ:ARCC) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a research note issued on Tuesday.
ARCC has been the topic of a number of other reports. CIBC began coverage on shares of Ares Capital in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price on the stock. BMO Capital Markets restated a “hold” rating and issued a $15.00 target price on shares of Ares Capital in a report on Friday, August 25th. BidaskClub lowered shares of Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a report on Friday, November 3rd. Finally, Oppenheimer began coverage on shares of Ares Capital in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Ares Capital currently has a consensus rating of “Buy” and an average price target of $18.00.
Shares of Ares Capital (NASDAQ:ARCC) opened at $16.51 on Tuesday. The company has a market cap of $7,033.94, a PE ratio of 11.46, a P/E/G ratio of 3.99 and a beta of 0.63. Ares Capital has a 12 month low of $15.48 and a 12 month high of $17.87. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $294.00 million for the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same period in the prior year, the company earned $0.43 EPS. equities analysts anticipate that Ares Capital will post 1.38 earnings per share for the current year.
In related news, Director Michael J. Arougheti acquired 8,365 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $15.85 per share, for a total transaction of $132,585.25. Following the acquisition, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 8,965 shares of company stock worth $142,323. Insiders own 0.45% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Shelton Capital Management lifted its holdings in shares of Ares Capital by 84.3% during the 3rd quarter. Shelton Capital Management now owns 171,641 shares of the investment management company’s stock worth $2,813,000 after acquiring an additional 78,500 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Ares Capital by 91.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 221,263 shares of the investment management company’s stock worth $3,626,000 after acquiring an additional 105,751 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Ares Capital during the 3rd quarter worth about $191,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Ares Capital by 23.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 267,800 shares of the investment management company’s stock worth $4,389,000 after acquiring an additional 50,900 shares during the period. Finally, Delphi Management Inc. MA lifted its holdings in shares of Ares Capital by 4.8% during the 3rd quarter. Delphi Management Inc. MA now owns 149,863 shares of the investment management company’s stock worth $2,456,000 after acquiring an additional 6,823 shares during the period. Institutional investors and hedge funds own 43.70% of the company’s stock.
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About Ares Capital
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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