Ares Capital Co. (NASDAQ:ARCC) Director Purchases $49,811.25 in Stock

Posted by on Jun 17th, 2022

Ares Capital Co. (NASDAQ:ARCC – Get Rating) Director Steven B. Mckeever acquired 2,775 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average cost of $17.95 per share, with a total value of $49,811.25. Following the purchase, the director now owns 44,944 shares of the company’s stock, valued at approximately $806,744.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ARCC traded up $0.30 during trading on Friday, reaching $17.42. The stock had a trading volume of 6,757,629 shares, compared to its average volume of 3,929,606. The stock’s 50 day moving average is $19.95 and its two-hundred day moving average is $20.69. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 5.56 and a beta of 1.01. Ares Capital Co. has a one year low of $17.03 and a one year high of $23.00.

Ares Capital (NASDAQ:ARCC – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The investment management company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). Ares Capital had a net margin of 75.13% and a return on equity of 10.23%. The company had revenue of $440.00 million for the quarter, compared to the consensus estimate of $486.12 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. Ares Capital’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Ares Capital Co. will post 1.77 earnings per share for the current year.

Several large investors have recently modified their holdings of ARCC. Millennium Management LLC bought a new position in shares of Ares Capital during the second quarter valued at $375,000. Mariner LLC increased its holdings in shares of Ares Capital by 111.7% during the third quarter. Mariner LLC now owns 39,217 shares of the investment management company’s stock valued at $797,000 after acquiring an additional 20,696 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Ares Capital by 180.4% during the third quarter. Cubist Systematic Strategies LLC now owns 77,142 shares of the investment management company’s stock valued at $1,568,000 after acquiring an additional 49,635 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Ares Capital by 13.2% during the third quarter. MML Investors Services LLC now owns 93,923 shares of the investment management company’s stock valued at $1,909,000 after acquiring an additional 10,922 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its position in shares of Ares Capital by 0.3% during the third quarter. United Capital Financial Advisers LLC now owns 163,069 shares of the investment management company’s stock valued at $3,315,000 after buying an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 29.44% of the company’s stock.

A number of research firms have recently weighed in on ARCC. JPMorgan Chase & Co. raised Ares Capital from a “neutral” rating to an “overweight” rating and set a $22.00 price objective for the company in a research note on Wednesday, April 27th. Hovde Group decreased their target price on Ares Capital to $19.00 in a report on Friday, May 20th. TheStreet downgraded Ares Capital from a “b-” rating to a “c+” rating in a report on Monday, May 23rd. Wells Fargo & Company upped their target price on Ares Capital from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 25th. Finally, StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Ares Capital currently has a consensus rating of “Buy” and a consensus target price of $22.00.

About Ares Capital (Get Rating)

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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