Insider Buying: Ares Capital Corp. VP Acquires 1,500 Shares of Stock (ARCC)
Ares Capital Corp. (NASDAQ:ARCC) VP Joshua M. Bloomstein acquired 1,500 shares of Ares Capital Corp. stock on the open market in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $16.41 per share, with a total value of $24,615.00. Following the transaction, the vice president now directly owns 9,000 shares in the company, valued at approximately $147,690. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
ARCC has been the subject of a number of recent research reports. Analysts at RBC Capital cut their price target on shares of Ares Capital Corp. from $19.00 to $18.00 in a research note on Thursday. They now have a “sector perform” rating on the stock. Separately, analysts at JMP Securities reiterated an “outperform” rating on shares of Ares Capital Corp. in a research note on Thursday. They now have a $18.00 price target on the stock, down previously from $18.50. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of Ares Capital Corp. from $18.00 to $17.25 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.04.
Ares Capital Corp. (NASDAQ:ARCC) opened at 16.62 on Friday. Ares Capital Corp. has a 52-week low of $16.21 and a 52-week high of $18.63. The stock has a 50-day moving average of $17.16 and a 200-day moving average of $17.4.
Ares Capital Corp. (NASDAQ:ARCC) last released its earnings data on Tuesday, August 5th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.04. The company had revenue of $224.92 million for the quarter, compared to the consensus estimate of $231.50 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Ares Capital Corp. will post $1.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.15%. The ex-dividend date is Thursday, September 11th.
Ares Capital Corporation (NASDAQ:ARCC) is a specialty finance company, which is a closed-end, non-diversified management investment company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.