Ares Capital Co. (ARCC) Director Acquires $171,257.25 in Stock

Ares Capital Co. (NASDAQ:ARCC) Director Bates Ann Torre acquired 9,725 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $17.61 per share, with a total value of $171,257.25. Following the transaction, the director now owns 24,000 shares in the company, valued at approximately $422,640. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ARCC traded down $0.11 during mid-day trading on Thursday, reaching $17.60. The stock had a trading volume of 1,816,540 shares, compared to its average volume of 1,918,514. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 10.48 and a beta of 0.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.47 and a current ratio of 2.47. Ares Capital Co. has a 52 week low of $14.50 and a 52 week high of $18.07.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, April 30th. The investment management company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. The firm had revenue of $373.00 million for the quarter, compared to analyst estimates of $337.96 million. Ares Capital had a return on equity of 10.12% and a net margin of 59.58%. During the same period last year, the company earned $0.57 EPS. As a group, research analysts forecast that Ares Capital Co. will post 1.78 EPS for the current year.

The business also recently declared a special dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.02 dividend. The ex-dividend date is Friday, September 13th. This represents a dividend yield of 9.04%. Ares Capital’s dividend payout ratio is currently 95.24%.

A number of analysts have issued reports on the company. Wedbush set a $20.00 price target on Ares Capital and gave the stock a “buy” rating in a research note on Tuesday. BidaskClub raised Ares Capital from a “hold” rating to a “buy” rating in a report on Wednesday. National Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Ares Capital in a report on Wednesday, May 1st. Zacks Investment Research cut Ares Capital from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, JMP Securities raised their price target on Ares Capital from $19.00 to $19.50 and gave the company a “market outperform” rating in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ares Capital currently has an average rating of “Buy” and a consensus price target of $19.25.

Several large investors have recently bought and sold shares of the company. Financial Advantage Inc. boosted its holdings in shares of Ares Capital by 0.8% during the first quarter. Financial Advantage Inc. now owns 285,221 shares of the investment management company’s stock worth $4,888,000 after acquiring an additional 2,178 shares during the period. Ipswich Investment Management Co. Inc. increased its stake in Ares Capital by 256.9% during the first quarter. Ipswich Investment Management Co. Inc. now owns 73,199 shares of the investment management company’s stock worth $1,255,000 after purchasing an additional 52,689 shares during the period. LGT Capital Partners LTD. increased its stake in Ares Capital by 7.0% during the first quarter. LGT Capital Partners LTD. now owns 1,830,000 shares of the investment management company’s stock worth $31,366,000 after purchasing an additional 120,000 shares during the period. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Ares Capital during the fourth quarter worth approximately $156,000. Finally, Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Ares Capital by 2.2% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 576,381 shares of the investment management company’s stock valued at $8,980,000 after acquiring an additional 12,413 shares during the period. Institutional investors and hedge funds own 39.15% of the company’s stock.

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Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.

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