Ares Capital (NASDAQ:ARCC) Shares Gap Down to $22.05

Ares Capital Co. (NASDAQ:ARCC) shares gapped down prior to trading on Thursday . The stock had previously closed at $22.05, but opened at $21.36. Ares Capital shares last traded at $21.30, with a volume of 343,697 shares traded.

A number of brokerages have commented on ARCC. Zacks Investment Research cut Ares Capital from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Friday, October 29th. Raymond James upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Janney Montgomery Scott initiated coverage on Ares Capital in a research note on Friday, December 3rd. They issued a “buy” rating and a $22.00 price objective for the company. Wells Fargo & Company upped their price objective on Ares Capital from $22.00 to $22.75 and gave the stock an “overweight” rating in a research note on Monday, October 25th. Finally, Citigroup upped their price objective on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.84.

The business has a 50 day moving average of $20.71 and a 200 day moving average of $20.46. The company has a market capitalization of $9.88 billion, a P/E ratio of 5.99 and a beta of 1.13. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.17.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Monday, October 25th. The investment management company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Ares Capital had a return on equity of 10.96% and a net margin of 90.29%. The company had revenue of $442.00 million during the quarter, compared to analyst estimates of $431.01 million. During the same period in the prior year, the company earned $0.39 earnings per share. On average, research analysts anticipate that Ares Capital Co. will post 1.9 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Wednesday, December 15th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date was Tuesday, December 14th. Ares Capital’s payout ratio is presently 45.81%.

In other Ares Capital news, CFO Penelope F. Roll sold 25,805 shares of the company’s stock in a transaction that occurred on Tuesday, December 14th. The stock was sold at an average price of $19.96, for a total transaction of $515,067.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.64% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Spire Wealth Management raised its position in Ares Capital by 6.2% during the fourth quarter. Spire Wealth Management now owns 90,482 shares of the investment management company’s stock valued at $1,917,000 after purchasing an additional 5,292 shares during the period. TPG Financial Advisors LLC raised its position in Ares Capital by 60.0% during the fourth quarter. TPG Financial Advisors LLC now owns 16,807 shares of the investment management company’s stock valued at $356,000 after purchasing an additional 6,305 shares during the period. Stratos Wealth Partners LTD. raised its position in Ares Capital by 20.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 146,207 shares of the investment management company’s stock valued at $3,098,000 after purchasing an additional 25,104 shares during the period. Koshinski Asset Management Inc. raised its position in Ares Capital by 4.3% during the fourth quarter. Koshinski Asset Management Inc. now owns 29,700 shares of the investment management company’s stock valued at $629,000 after purchasing an additional 1,212 shares during the period. Finally, Wedbush Securities Inc. raised its position in Ares Capital by 5.7% during the fourth quarter. Wedbush Securities Inc. now owns 102,998 shares of the investment management company’s stock valued at $2,183,000 after purchasing an additional 5,523 shares during the period. Institutional investors and hedge funds own 30.07% of the company’s stock.

Ares Capital Company Profile (NASDAQ:ARCC)

Ares Capital Corp is a closed-end non-diversified management investment company. The fund targets companies operating in the fields of Health Care Services, Software & Services, Consumer Durables & Apparel, Energy, Food & Beverage, and Retail. It provides financing for buyouts, acquisitions, recapitalizations, restructurings, rescue financing, growth capital and general refinancing.

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