Several other equities analysts also recently commented on ARCC. National Securities restated a buy rating and issued a $20.00 price target on shares of Ares Capital in a research note on Wednesday, May 1st. Zacks Investment Research downgraded shares of Ares Capital from a buy rating to a hold rating in a research note on Tuesday, April 16th. Raymond James upped their price target on shares of Ares Capital from $19.00 to $19.50 and gave the company an outperform rating in a research note on Wednesday, July 31st. BMO Capital Markets set a $19.00 price target on shares of Ares Capital and gave the company a hold rating in a research note on Wednesday, July 31st. Finally, Wedbush set a $20.00 price target on shares of Ares Capital and gave the company a buy rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $19.25.
NASDAQ:ARCC opened at $18.34 on Friday. Ares Capital has a one year low of $14.50 and a one year high of $18.83. The firm has a market capitalization of $7.83 billion, a P/E ratio of 10.92 and a beta of 0.61. The company has a fifty day moving average of $18.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10.
In other Ares Capital news, CFO Penelope F. Roll purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $18.36 per share, for a total transaction of $36,720.00. Following the completion of the purchase, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $204,658.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bates Ann Torre purchased 9,725 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $17.61 per share, for a total transaction of $171,257.25. Following the completion of the purchase, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $422,640. The disclosure for this purchase can be found here. Insiders purchased 22,625 shares of company stock worth $406,816 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Advantage Inc. lifted its position in 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 purchasing an additional 2,178 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its position in Ares Capital by 1.0% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 615,591 shares of the investment management company’s stock worth $11,044,000 after purchasing an additional 6,194 shares during the period. Ipswich Investment Management Co. Inc. lifted its position 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. Alphasimplex Group LLC bought a new stake in Ares Capital during the first quarter worth about $1,696,000. Finally, Wesbanco Bank Inc. bought a new stake in Ares Capital during the first quarter worth about $220,000. 37.49% of the stock is owned by institutional investors and hedge funds.
About Ares Capital
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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