Ares Capital Co. (NASDAQ:ARCC) gapped down before the market opened on Thursday . The stock had previously closed at $16.87, but opened at $16.51. Ares Capital shares last traded at $15.93, with a volume of 5531748 shares traded.

Several equities research analysts have recently weighed in on ARCC shares. Keefe, Bruyette & Woods set a $19.00 price objective on Ares Capital and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. TheStreet lowered Ares Capital from a “b” rating to a “c+” rating in a research note on Monday, November 13th. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Ares Capital in a research note on Friday, August 25th. Finally, Jefferies Group reissued a “buy” rating and set a $19.50 price objective on shares of Ares Capital in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Ares Capital presently has a consensus rating of “Buy” and an average price target of $18.00.

The firm has a market cap of $7,033.94, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 3.99 and a beta of 0.63. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. During the same quarter last year, the firm posted $0.43 earnings per share. analysts anticipate that Ares Capital Co. will post 1.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.54%. Ares Capital’s dividend payout ratio (DPR) is presently 119.69%.

In other Ares Capital news, Director Michael J. Arougheti bought 8,365 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 8,965 shares of company stock valued at $142,323. 0.45% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC boosted its position in shares of Ares Capital by 8.9% in the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after buying an additional 526 shares during the period. Hudock Capital Group LLC boosted its position in Ares Capital by 3.2% during the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 200 shares during the last quarter. Ffcm LLC boosted its position in Ares Capital by 218.9% during the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after purchasing an additional 4,695 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Ares Capital during the third quarter valued at $128,000. Finally, Joel Isaacson & Co. LLC acquired a new stake in Ares Capital during the third quarter valued at $164,000. 43.70% of the stock is owned by institutional investors and hedge funds.

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About Ares Capital

Ares Capital Corporation is a specialty finance company. The Company operates as 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. It invests primarily in the United States middle-market companies.

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