Ares Capital (NASDAQ:ARCC) Shares Down 0%

Ares Capital Co. (NASDAQ:ARCC) dropped 0% during trading on Monday . The stock traded as low as $20.89 and last traded at $20.90. Approximately 1,170,784 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 3,451,612 shares. The stock had previously closed at $20.91.

Analysts Set New Price Targets

ARCC has been the topic of a number of research reports. JMP Securities increased their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, UBS Group raised shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.71.

Ares Capital Stock Up 0.0 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $12.86 billion, a P/E ratio of 7.16 and a beta of 1.01. The stock’s fifty day moving average is $20.71 and its two-hundred day moving average is $20.78.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period last year, the company posted $0.58 EPS. As a group, research analysts predict that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, September 13th. This represents a $1.92 annualized dividend and a yield of 9.18%. Ares Capital’s payout ratio is presently 65.75%.

Institutional Trading of Ares Capital

A number of hedge funds have recently bought and sold shares of ARCC. Jamison Private Wealth Management Inc. raised its holdings in shares of Ares Capital by 62.7% during the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares during the period. Asset Dedication LLC acquired a new stake in shares of Ares Capital in the second quarter worth $26,000. Valley National Advisers Inc. boosted its position in shares of Ares Capital by 323.3% in the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after buying an additional 1,096 shares during the period. Hobbs Group Advisors LLC acquired a new position in Ares Capital during the second quarter valued at $32,000. Finally, nVerses Capital LLC lifted its stake in Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after acquiring an additional 800 shares in the last quarter. 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.