Ares Capital Co. (NASDAQ: ARCC) saw unusually large options trading on Friday. Equity investors acquired 96,431 call options on the shares. This represents an increase of approximately 4,581% over the average volume of 2,060 call options.
Several brokerage firms weighed on ARCC. Citigroup raised its price target on Ares Capital from $ 17.00 to $ 20.00 in a report released on Thursday, February 11. TheStreet downgraded Ares Capital from a “c +” rating to a “b-” rating in a report released on Friday, April 30. Wedbush raised its price target on Ares Capital from $ 20.00 to $ 21.00 and gave the stock an “outperformance” rating in a report released on Thursday, April 29. JPMorgan Chase & Co. raised its price target on Ares Capital from $ 18.00 to $ 19.00 and rated the stock “neutral” in a report released on Wednesday, March 17. To finish, Zacks investment research reduce Ares Capital from a “buy” rating to a “hold” rating and set a price target of $ 20.00 for the company. in a research report on Tuesday, April 13. Three analysts rated the stock with a conservation rating and six issued a buy rating for the stock. Ares Capital currently has an average rating of “Buy” and an average price target of $ 18.56.
Actions of NASDAQ: ARCC traded at $ 0.23 on Friday, reaching $ 19.96. 2,949,520 shares of the company were traded, for an average volume of 2,137,660. The 50-day moving average of the stock is $ 19.33. The stock has a market cap of $ 8.73 billion, a P / E ratio of 5.72 and a beta of 1.19. Ares Capital has a one-year low at $ 13.15 and a one-year high at $ 20.10. The company has a debt to equity ratio of 1.05, a current ratio of 1.39, and a rapid ratio of 1.39.
Ares Capital (NASDAQ: ARCC) last reported its results on Tuesday, April 27. The investment management company reported earnings per share (EPS) of $ 0.43 for the quarter, beating analyst consensus estimates of $ 0.42 by $ 0.01. The company posted revenue of $ 390.00 million in the quarter, compared to $ 385.85 million expected by analysts. Ares Capital has a return on equity of 10.46% and a net margin of 95.89%. The company’s revenue grew 5.7% year-over-year. During the same period of the previous year, the company achieved EPS of $ 0.41. Equity analysts predict that Ares Capital will post 1.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30. Investors of record on Tuesday, June 15 will receive a dividend of $ 0.40. The ex-dividend date for this dividend is Monday, June 14. This represents a dividend of $ 1.60 on an annualized basis and a dividend yield of 8.02%. Ares Capital’s dividend payout ratio (DPR) is currently 91.95%.
Several hedge funds and other institutional investors have recently changed their positions in the title. Core Wealth Advisors Inc. acquired a new stake in Ares Capital during the 4th quarter for a value of approximately $ 25,000. Montag A & Associates Inc. acquired a new stake in Ares Capital during the 4th quarter valued at approximately $ 25,000. Tompkins Financial Corp acquired a new stake in Ares Capital during the 4th quarter for a value of approximately $ 36,000. Parkside Financial Bank & Trust acquired a new stake in Ares Capital during the 4th quarter for a value of approximately $ 46,000. Finally, Ropes Wealth Advisors LLC acquired a new stake in Ares Capital during the 4th quarter for a value of approximately $ 54,000. 30.63% of the shares are held by hedge funds and other institutional investors.
About Ares Capital
Ares Capital Corporation is a business development company specializing in the acquisition, recapitalization, mezzanine debt, restructurings, bailout financing and LBO transactions of mid-market companies. It also does development capital and general refinancing. He prefers to invest in companies active in basic and growth manufacturing, business services, consumer products, health care products and services, and information technology services.
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