Joel Isaacson & Co. LLC raised its holdings in Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 0.7% during the second quarter, HoldingsChannel reports. The firm owned 158,828 shares of the investment management company’s stock after buying an additional 1,150 shares during the period. Joel Isaacson & Co. LLC’s holdings in Ares Capital were worth $2,848,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of ARCC. Enstar Group LTD increased its stake in Ares Capital by 5,266.8% in the first quarter. Enstar Group LTD now owns 3,129,652 shares of the investment management company’s stock valued at $65,566,000 after purchasing an additional 3,071,337 shares during the period. Border to Coast Pensions Partnership Ltd acquired a new position in shares of Ares Capital during the first quarter worth about $36,527,000. Goldman Sachs Group Inc. increased its stake in shares of Ares Capital by 160.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,117,111 shares of the investment management company’s stock worth $23,403,000 after acquiring an additional 687,496 shares during the period. Ares Management LLC increased its stake in shares of Ares Capital by 35.7% during the first quarter. Ares Management LLC now owns 2,361,573 shares of the investment management company’s stock worth $49,475,000 after acquiring an additional 621,814 shares during the period. Finally, CCLA Investment Management Ltd increased its stake in shares of Ares Capital by 16.1% during the first quarter. CCLA Investment Management Ltd now owns 3,722,916 shares of the investment management company’s stock worth $77,995,000 after acquiring an additional 516,711 shares during the period. 33.79% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital Trading Down 1.8 %
Shares of Ares Capital stock traded down $0.32 during trading hours on Friday, hitting $17.52. The company’s stock had a trading volume of 271,065 shares, compared to its average volume of 2,305,621. Ares Capital Co. has a 1-year low of $17.03 and a 1-year high of $23.00. The business has a fifty day moving average of $19.68 and a 200 day moving average of $19.75. The company has a market capitalization of $8.69 billion, a PE ratio of 8.07 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.26.
Insider Transactions at Ares Capital
In related news, CFO Penelope F. Roll acquired 25,000 shares of Ares Capital stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $19.77 per share, for a total transaction of $494,250.00. Following the purchase, the chief financial officer now directly owns 52,000 shares of the company’s stock, valued at approximately $1,028,040. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ares Capital news, CFO Penelope F. Roll purchased 25,000 shares of Ares Capital stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average cost of $19.77 per share, for a total transaction of $494,250.00. Following the transaction, the chief financial officer now owns 52,000 shares in the company, valued at approximately $1,028,040. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Penelope F. Roll purchased 2,500 shares of Ares Capital stock in a transaction dated Wednesday, September 14th. The stock was acquired at an average price of $19.04 per share, for a total transaction of $47,600.00. Following the completion of the transaction, the chief financial officer now owns 54,500 shares in the company, valued at approximately $1,037,680. The disclosure for this purchase can be found here. Company insiders own 0.59% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ARCC. Oppenheimer dropped their price target on shares of Ares Capital to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. JMP Securities decreased their price objective on shares of Ares Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.88.
About Ares Capital
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.
- Get a free copy of the StockNews.com research report on Ares Capital (ARCC)
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