Ares Capital (ARCC) Upgraded to “B-” by TheStreet
Ares Capital (NASDAQ:ARCC) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a report issued on Tuesday.
Other research analysts have also recently issued reports about the stock. National Securities reiterated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a research note on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and issued a $19.50 target price on shares of Ares Capital in a research note on Friday, November 3rd. Keefe, Bruyette & Woods set a $19.00 target price on shares of Ares Capital and gave the company a “buy” rating in a research note on Friday, October 6th. Compass Point initiated coverage on shares of Ares Capital in a research note on Wednesday, December 6th. They issued a “buy” rating and a $17.50 target price on the stock. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $15.00 target price on shares of Ares Capital in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $18.00.
Ares Capital (NASDAQ:ARCC) traded down $0.58 during trading on Tuesday, reaching $15.93. 5,531,748 shares of the company traded hands, compared to its average volume of 2,054,530. Ares Capital has a 1-year low of $15.48 and a 1-year high of $17.87. The stock has a market capitalization of $7,033.94, a PE ratio of 11.46, a PEG ratio of 3.99 and a beta of 0.63. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66.
In other Ares Capital news, Director Michael J. Arougheti purchased 8,365 shares of the stock in a transaction dated Friday, November 3rd. The shares were bought at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 8,965 shares of company stock worth $142,323. Insiders own 0.45% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Shelton Capital Management raised its position in shares of Ares Capital by 84.3% in the third quarter. Shelton Capital Management now owns 171,641 shares of the investment management company’s stock valued at $2,813,000 after purchasing an additional 78,500 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Ares Capital by 91.5% in the third quarter. Chicago Partners Investment Group LLC now owns 221,263 shares of the investment management company’s stock valued at $3,626,000 after purchasing an additional 105,751 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Ares Capital in the third quarter valued at approximately $191,000. Public Employees Retirement System of Ohio raised its position in shares of Ares Capital by 23.5% in the third quarter. Public Employees Retirement System of Ohio now owns 267,800 shares of the investment management company’s stock valued at $4,389,000 after purchasing an additional 50,900 shares during the period. Finally, Delphi Management Inc. MA increased its holdings in Ares Capital by 4.8% during the 3rd quarter. Delphi Management Inc. MA now owns 149,863 shares of the investment management company’s stock worth $2,456,000 after acquiring an additional 6,823 shares during the period. 43.70% of the stock is currently owned by institutional investors.
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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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