Ares Capital Co. (NASDAQ:ARCC) has received an average rating of “Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.
Several brokerages have issued reports on ARCC. Zacks Investment Research upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. TheStreet upgraded shares of Ares Capital from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Compass Point started coverage on shares of Ares Capital in a research report on Wednesday, December 6th. They set a “buy” rating and a $17.50 price objective for the company. BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th. Finally, Wedbush started coverage on shares of Ares Capital in a research report on Monday, November 27th. They set an “outperform” rating and a $18.00 price objective for the company.
Shares of Ares Capital (NASDAQ ARCC) traded up $0.05 during midday trading on Friday, hitting $16.28. The stock had a trading volume of 1,176,044 shares, compared to its average volume of 2,140,000. The company has a market cap of $6,960.00, a PE ratio of 12.92, a price-to-earnings-growth ratio of 3.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital has a 12 month low of $15.60 and a 12 month high of $17.87.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.34%. Ares Capital’s payout ratio is presently 120.63%.
In related news, Director Michael J. Arougheti bought 8,365 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the purchase, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have acquired 8,965 shares of company stock worth $142,237. Insiders own 0.45% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. boosted its position in Ares Capital by 7.1% during the second quarter. Alliancebernstein L.P. now owns 60,050 shares of the investment management company’s stock valued at $984,000 after acquiring an additional 3,970 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Ares Capital by 2.0% during the 2nd quarter. California Public Employees Retirement System now owns 837,600 shares of the investment management company’s stock valued at $13,720,000 after acquiring an additional 16,200 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of Ares Capital during the 2nd quarter valued at approximately $180,000. Tudor Investment Corp ET AL boosted its holdings in Ares Capital by 60.9% in the 2nd quarter. Tudor Investment Corp ET AL now owns 53,460 shares of the investment management company’s stock worth $876,000 after buying an additional 20,243 shares during the period. Finally, Salem Investment Counselors Inc. boosted its holdings in Ares Capital by 2.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 82,004 shares of the investment management company’s stock worth $1,343,000 after buying an additional 2,051 shares during the period. 43.59% 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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