Ares Capital (NASDAQ:ARCC) Stock Price Up 0.1% – Here’s What Happened

Ares Capital Co. (NASDAQ:ARCC) shares were up 0.1% during trading on Wednesday . The stock traded as high as $22.31 and last traded at $22.32. Approximately 606,393 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,727,700 shares. The stock had previously closed at $22.29.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Wells Fargo & Company dropped their price target on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average target price of $22.94.

Ares Capital Stock Performance

The firm has a market cap of $15.30 billion, a PE ratio of 9.13 and a beta of 1.00. The company has a 50-day simple moving average of $22.76 and a two-hundred day simple moving average of $22.01. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03.

Ares Capital (NASDAQ:ARCC) 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 net margin of 50.90% and a return on equity of 11.54%. As a group, equities research analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 8.59%. Ares Capital’s payout ratio is 78.37%.

Institutional Trading of Ares Capital

A number of large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Ares Capital by 25.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock worth $4,651,000 after acquiring an additional 44,548 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Ares Capital by 331.6% during the third quarter. BNP Paribas Financial Markets now owns 178,224 shares of the investment management company’s stock valued at $3,732,000 after purchasing an additional 136,927 shares during the last quarter. Verition Fund Management LLC bought a new position in Ares Capital during the third quarter worth about $1,547,000. Erste Asset Management GmbH purchased a new stake in shares of Ares Capital during the 3rd quarter valued at approximately $651,000. Finally, Benjamin Edwards Inc. boosted its holdings in Ares Capital by 61.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 26,968 shares of the investment management company’s stock worth $565,000 after buying an additional 10,220 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Company Profile

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.