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.
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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