Ares Capital Co. (NASDAQ:ARCC - Get Free Report) shares shot up 1.3% during trading on Thursday . The company traded as high as $21.04 and last traded at $21.02. 760,241 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,063,985 shares. The stock had previously closed at $20.75.
Analyst Ratings Changes
Several research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday. StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Royal Bank of Canada raised their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company lowered their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.
Check Out Our Latest Stock Analysis on ARCC
Ares Capital Price Performance
The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The company has a fifty day moving average price of $21.60 and a two-hundred day moving average price of $21.94. The company has a market cap of $14.45 billion, a P/E ratio of 8.62 and a beta of 0.77.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.
Ares Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.48 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.10%. Ares Capital's dividend payout ratio is 78.37%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in ARCC. Sage Advisors LLC increased its holdings in shares of Ares Capital by 3.5% in the first quarter. Sage Advisors LLC now owns 998,486 shares of the investment management company's stock valued at $22,126,000 after purchasing an additional 33,798 shares during the last quarter. Prairiewood Capital LLC boosted its holdings in shares of Ares Capital by 8.5% during the 1st quarter. Prairiewood Capital LLC now owns 196,221 shares of the investment management company's stock worth $4,348,000 after buying an additional 15,379 shares during the period. J.Safra Asset Management Corp raised its holdings in Ares Capital by 21.0% in the 1st quarter. J.Safra Asset Management Corp now owns 9,598 shares of the investment management company's stock valued at $213,000 after acquiring an additional 1,666 shares during the period. Spinnaker Trust acquired a new stake in Ares Capital during the first quarter worth approximately $11,390,000. Finally, Taylor Frigon Capital Management LLC boosted its holdings in shares of Ares Capital by 0.6% during the first quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company's stock worth $2,316,000 after acquiring an additional 582 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.
About Ares Capital
(
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Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.
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