Ares Capital (NASDAQ:ARCC) Price Target Lowered to $22.00 at Citizens Jmp

Ares Capital (NASDAQ:ARCC) had its price objective decreased by equities researchers at Citizens Jmp from $23.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the investment management company’s stock. Citizens Jmp’s price target would suggest a potential upside of 16.03% from the stock’s current price.

ARCC has been the subject of a number of other reports. Royal Bank Of Canada lowered their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. JPMorgan Chase & Co. lowered their price objective on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Wells Fargo & Company lowered their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Capital in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.13.

Ares Capital Trading Down 0.8%

NASDAQ ARCC opened at $18.96 on Wednesday. Ares Capital has a 12 month low of $17.40 and a 12 month high of $23.42. The company’s 50-day moving average price is $18.59 and its 200-day moving average price is $19.64. The stock has a market cap of $13.61 billion, a PE ratio of 10.19 and a beta of 0.58. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, February 4th. The investment management company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. Ares Capital had a net margin of 42.56% and a return on equity of 9.89%. The company had revenue of $793.00 million during the quarter, compared to analyst estimates of $795.20 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Ares Capital will post 1.93 earnings per share for the current year.

Insider Activity

In related news, CFO Scott C. Lem acquired 5,186 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average cost of $19.29 per share, with a total value of $100,037.94. Following the transaction, the chief financial officer directly owned 39,463 shares of the company’s stock, valued at $761,241.27. This trade represents a 15.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Kort Schnabel acquired 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average cost of $19.13 per share, with a total value of $239,125.00. Following the completion of the transaction, the chief executive officer directly owned 40,500 shares in the company, valued at $774,765. The trade was a 44.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Ares Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. City Holding Co. increased its holdings in Ares Capital by 444.4% in the 3rd quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock worth $25,000 after buying an additional 1,000 shares during the period. Palladiem LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $26,000. SWAN Capital LLC purchased a new position in shares of Ares Capital during the 3rd quarter valued at approximately $27,000. Sankala Group LLC purchased a new position in shares of Ares Capital during the 4th quarter valued at approximately $28,000. Finally, NBT Bank N A NY purchased a new position in shares of Ares Capital during the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.