Ares Capital (NASDAQ:ARCC) CEO Michael Kort Schnabel Buys 12,500 Shares of Stock

Ares Capital Corporation (NASDAQ:ARCC) CEO Michael Kort Schnabel acquired 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $19.13 per share, for a total transaction of $239,125.00. Following the completion of the transaction, the chief executive officer directly owned 40,500 shares in the company, valued at approximately $774,765. This represents a 44.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $19.48 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $13.99 billion, a P/E ratio of 10.47 and a beta of 0.59. The firm has a 50-day moving average price of $20.36 and a two-hundred day moving average price of $20.83. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.63.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Ares Capital had a net margin of 42.56% and a return on equity of 9.89%. The company had revenue of $793.00 million for the quarter, compared to the consensus estimate of $795.20 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.92 annualized dividend and a yield of 9.9%. Ares Capital’s dividend payout ratio (DPR) is presently 103.23%.

Wall Street Analyst Weigh In

ARCC has been the topic of several recent research reports. Royal Bank Of Canada reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods reduced their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. UBS Group lowered their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. B. Riley Financial reissued a “buy” rating on shares of Ares Capital in a research note on Monday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average price target of $22.00.

Institutional Investors Weigh In On Ares Capital

A number of institutional investors have recently bought and sold shares of the stock. Prostatis Group LLC raised its stake in Ares Capital by 2.1% during the second quarter. Prostatis Group LLC now owns 22,236 shares of the investment management company’s stock worth $488,000 after purchasing an additional 468 shares during the period. Fountainhead AM LLC increased its holdings in shares of Ares Capital by 5.5% during the 2nd quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock worth $214,000 after buying an additional 511 shares during the last quarter. Carnegie Lake Advisors LLC raised its position in shares of Ares Capital by 0.8% in the 2nd quarter. Carnegie Lake Advisors LLC now owns 65,514 shares of the investment management company’s stock worth $1,439,000 after buying an additional 517 shares during the period. Canal Capital Management LLC boosted its holdings in Ares Capital by 1.6% in the fourth quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock valued at $667,000 after acquiring an additional 520 shares during the last quarter. Finally, BKM Wealth Management LLC grew its position in Ares Capital by 1.3% during the third quarter. BKM Wealth Management LLC now owns 42,394 shares of the investment management company’s stock valued at $865,000 after acquiring an additional 525 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.