Ares Capital Co. (NASDAQ:ARCC - Get Free Report)'s stock price rose 0.2% on Monday . The company traded as high as $21.27 and last traded at $21.16. Approximately 983,077 shares were traded during trading, a decline of 76% from the average daily volume of 4,078,398 shares. The stock had previously closed at $21.11.
Analyst Ratings Changes
A number of analysts recently commented on the stock. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday. UBS Group decreased their price target on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.22.
Check Out Our Latest Analysis on Ares Capital
Ares Capital Stock Up 0.3 %
The firm has a market capitalization of $14.49 billion, a PE ratio of 8.64 and a beta of 0.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $21.60 and a 200 day simple moving average of $21.95.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, sell-side analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current year.
Ares Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.07%. Ares Capital's dividend payout ratio is presently 78.37%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Montag & Caldwell LLC purchased a new stake in Ares Capital in the fourth quarter worth $33,000. VSM Wealth Advisory LLC purchased a new position in shares of Ares Capital in the fourth quarter worth $35,000. Continuum Advisory LLC boosted its holdings in shares of Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company's stock valued at $36,000 after acquiring an additional 1,241 shares during the last quarter. PSI Advisors LLC grew its stake in shares of Ares Capital by 121.1% in the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company's stock worth $47,000 after acquiring an additional 1,150 shares during the period. Finally, Promus Capital LLC bought a new position in Ares Capital during the fourth quarter valued at approximately $48,000. 27.38% of the stock is currently owned by institutional investors.
Ares Capital Company Profile
(
Get Free Report)
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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