Ares Capital Corp. (ARCC) Sees Large Volume Increase
Ares Capital Corp. (NASDAQ:ARCC) shares saw strong trading volume on Friday . 1,830,107 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 1,608,743 shares.The stock last traded at $16.30 and had previously closed at $16.16.
A number of analysts have recently weighed in on the company. National Securities reissued a “neutral” rating and issued a $16.00 price objective on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating and set a $17.50 price target on shares of Ares Capital Corp. in a research report on Thursday, August 4th. TheStreet raised Ares Capital Corp. from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. JMP Securities lifted their price target on Ares Capital Corp. from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ares Capital Corp. has a consensus rating of “Buy” and a consensus target price of $16.78.
The firm’s 50-day moving average price is $15.47 and its 200-day moving average price is $14.74.
Ares Capital Corp. (NASDAQ:ARCC) last posted its earnings results on Wednesday, August 3rd. The investment management company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. During the same period in the previous year, the business posted $0.37 earnings per share. On average, analysts forecast that Ares Capital Corp. will post $1.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.27%. The ex-dividend date is Tuesday, September 13th.
In other Ares Capital Corp. news, insider Mitchell S. Goldstein bought 6,472 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were purchased at an average price of $15.45 per share, with a total value of $99,992.40. Following the completion of the acquisition, the insider now directly owns 195,358 shares of the company’s stock, valued at approximately $3,018,281.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in the United States middle-market companies.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.