Ares Capital (NASDAQ:ARCC) had its target price upped by JPMorgan Chase from $16.50 to $17.00 in a report released on Wednesday. The firm currently has an overweight rating on the investment management company’s stock.
Several other research analysts have also recently commented on ARCC. Zacks Investment Research cut shares of Ares Capital from a hold rating to a sell rating in a research report on Tuesday, January 2nd. TheStreet upgraded shares of Ares Capital from a c+ rating to a b- rating in a research report on Tuesday, December 12th. National Securities restated a buy rating and issued a $19.00 target price on shares of Ares Capital in a research report on Thursday, February 15th. BidaskClub cut shares of Ares Capital from a sell rating to a strong sell rating in a research report on Wednesday, February 28th. Finally, Oppenheimer set a $18.00 target price on shares of Ares Capital and gave the stock a buy rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $17.90.
ARCC traded up $0.03 on Wednesday, hitting $16.05. 181,147 shares of the company’s stock were exchanged, compared to its average volume of 2,176,438. The firm has a market cap of $6,803.73, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 3.41 and a beta of 0.58. Ares Capital has a twelve month low of $15.03 and a twelve month high of $17.68. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.68.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, February 13th. The investment management company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $301.38 million. Ares Capital had a net margin of 57.50% and a return on equity of 8.43%. Ares Capital’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. research analysts anticipate that Ares Capital will post 1.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.47%. The ex-dividend date of this dividend was Wednesday, March 14th. Ares Capital’s dividend payout ratio (DPR) is 109.35%.
In related news, CFO Penelope F. Roll acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $15.81 per share, for a total transaction of $47,430.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Arougheti acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was bought at an average price of $15.60 per share, with a total value of $390,000.00. Following the completion of the acquisition, the insider now directly owns 984,535 shares of the company’s stock, valued at $15,358,746. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 28,600 shares of company stock valued at $447,042. 0.49% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of Ares Capital by 14,542.3% in the fourth quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after acquiring an additional 7,562 shares in the last quarter. Van Cleef Asset Management Inc bought a new position in shares of Ares Capital in the fourth quarter valued at approximately $157,000. Harvest Capital Management Inc bought a new position in shares of Ares Capital in the fourth quarter valued at approximately $162,000. Cypress Capital Management LLC WY boosted its holdings in shares of Ares Capital by 133.3% in the fourth quarter. Cypress Capital Management LLC WY now owns 10,500 shares of the investment management company’s stock valued at $165,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Csenge Advisory Group bought a new position in shares of Ares Capital in the fourth quarter valued at approximately $169,000. Institutional investors and hedge funds own 42.72% 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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