Ares Capital (NASDAQ:ARCC) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Ares Capital (NASDAQ:ARCCGet Rating) from a sell rating to a hold rating in a research note released on Wednesday.

A number of other research analysts also recently issued reports on the stock. Hovde Group decreased their price target on shares of Ares Capital to $19.00 in a research note on Friday, May 20th. JPMorgan Chase & Co. upgraded shares of Ares Capital from a neutral rating to an overweight rating and set a $22.00 price objective for the company in a research report on Wednesday, April 27th. TheStreet downgraded shares of Ares Capital from a b- rating to a c+ rating in a research report on Monday, May 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Ares Capital from $22.50 to $23.00 and gave the stock an overweight rating in a research report on Monday, April 25th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $22.00.

Shares of Ares Capital stock opened at $17.55 on Wednesday. Ares Capital has a 52-week low of $17.03 and a 52-week high of $23.00. The company has a 50 day moving average of $19.64 and a 200 day moving average of $20.61. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $8.65 billion, a P/E ratio of 5.70 and a beta of 1.01.

Ares Capital (NASDAQ:ARCCGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Ares Capital had a return on equity of 10.23% and a net margin of 75.13%. The firm had revenue of $440.00 million during the quarter, compared to analysts’ expectations of $486.12 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Ares Capital will post 1.77 earnings per share for the current fiscal year.

In other Ares Capital news, EVP Michael J. Arougheti bought 300,000 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were acquired at an average cost of $17.75 per share, with a total value of $5,325,000.00. Following the acquisition, the executive vice president now directly owns 1,782,709 shares of the company’s stock, valued at approximately $31,643,084.75. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven B. Mckeever bought 2,775 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average cost of $17.95 per share, for a total transaction of $49,811.25. Following the completion of the acquisition, the director now directly owns 44,944 shares in the company, valued at $806,744.80. The disclosure for this purchase can be found here. Insiders bought a total of 356,775 shares of company stock worth $6,381,371 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. J.W. Cole Advisors Inc. increased its stake in Ares Capital by 2.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 82,125 shares of the investment management company’s stock valued at $1,721,000 after buying an additional 2,250 shares during the period. Verition Fund Management LLC acquired a new position in Ares Capital in the 1st quarter valued at $773,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Ares Capital by 46.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,134 shares of the investment management company’s stock valued at $1,679,000 after buying an additional 25,297 shares during the period. Kestra Private Wealth Services LLC increased its stake in Ares Capital by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 50,025 shares of the investment management company’s stock valued at $1,048,000 after buying an additional 1,325 shares during the period. Finally, Gradient Investments LLC increased its stake in Ares Capital by 14.4% in the 1st quarter. Gradient Investments LLC now owns 8,759 shares of the investment management company’s stock valued at $184,000 after buying an additional 1,100 shares during the period. 29.44% of the stock is currently owned by institutional investors.

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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