Ares Capital (NASDAQ:ARCC) had its price target reduced by Wells Fargo & Co from $20.50 to $15.00 in a research report released on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the investment management company’s stock.
Several other brokerages have also commented on ARCC. BidaskClub lowered Ares Capital from a hold rating to a sell rating in a research note on Wednesday, March 18th. ValuEngine raised Ares Capital from a sell rating to a hold rating in a research note on Monday, March 9th. Finally, TheStreet lowered Ares Capital from a b rating to a c+ rating in a research note on Wednesday, March 18th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ares Capital has a consensus rating of Buy and an average target price of $19.21.
ARCC traded down $0.63 during trading on Wednesday, reaching $11.29. The company’s stock had a trading volume of 5,366,312 shares, compared to its average volume of 8,628,982. Ares Capital has a 52-week low of $7.90 and a 52-week high of $19.33. The company’s fifty day moving average price is $16.26 and its 200-day moving average price is $18.08. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 6.07 and a beta of 0.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 14.17%. Ares Capital’s dividend payout ratio is currently 84.66%.
In other Ares Capital news, Director Steven B. Mckeever purchased 3,375 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $14.57 per share, for a total transaction of $49,173.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ARCC. Valeo Financial Advisors LLC increased its holdings in shares of Ares Capital by 87.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,726 shares of the investment management company’s stock worth $32,000 after buying an additional 806 shares during the last quarter. Horizon Bancorp Inc. IN acquired a new stake in shares of Ares Capital during the 4th quarter worth $54,000. Verus Capital Partners LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth $58,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Ares Capital during the 4th quarter worth $63,000. Finally, Advisory Alpha LLC increased its holdings in shares of Ares Capital by 13,894.7% during the 4th quarter. Advisory Alpha LLC now owns 5,318 shares of the investment management company’s stock worth $100,000 after buying an additional 5,280 shares during the last quarter. Institutional investors own 34.51% of the company’s stock.
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.
Featured Article: How does a security become overbought?
Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.