Ares Capital Co. (NASDAQ:ARCC) Director Buys $260,147.95 in Stock

Ares Capital Co. (NASDAQ:ARCC) Director Steve Bartlett acquired 14,177 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was bought at an average cost of $18.35 per share, for a total transaction of $260,147.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of ARCC stock opened at $18.66 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.89. Ares Capital Co. has a 1 year low of $14.50 and a 1 year high of $19.28. The firm’s fifty day moving average price is $18.53 and its two-hundred day moving average price is $18.25. The firm has a market capitalization of $7.92 billion, a P/E ratio of 9.81 and a beta of 0.59.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Ares Capital had a net margin of 49.90% and a return on equity of 10.97%. The firm had revenue of $387.00 million for the quarter, compared to analyst estimates of $370.17 million. During the same period in the previous year, the business earned $0.45 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that Ares Capital Co. will post 1.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.42 dividend. This is a positive change from Ares Capital’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s payout ratio is presently 95.24%.

Several research firms recently commented on ARCC. Compass Point cut shares of Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. BMO Capital Markets raised shares of Ares Capital from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $20.00 in a research report on Monday, August 19th. ValuEngine raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, BidaskClub cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Ares Capital currently has a consensus rating of “Hold” and a consensus target price of $19.83.

A number of hedge funds have recently modified their holdings of ARCC. MBM Wealth Consultants LLC increased its stake in shares of Ares Capital by 2.0% during the 2nd quarter. MBM Wealth Consultants LLC now owns 32,806 shares of the investment management company’s stock worth $590,000 after purchasing an additional 632 shares during the last quarter. Monument Capital Management increased its stake in shares of Ares Capital by 0.9% during the 3rd quarter. Monument Capital Management now owns 75,544 shares of the investment management company’s stock worth $1,408,000 after purchasing an additional 643 shares during the last quarter. Wambolt & Associates LLC increased its stake in shares of Ares Capital by 0.8% during the 2nd quarter. Wambolt & Associates LLC now owns 84,062 shares of the investment management company’s stock worth $1,508,000 after purchasing an additional 693 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Ares Capital by 2.0% during the 3rd quarter. DNB Asset Management AS now owns 35,945 shares of the investment management company’s stock worth $670,000 after purchasing an additional 700 shares during the last quarter. Finally, Keybank National Association OH increased its stake in shares of Ares Capital by 1.6% during the 3rd quarter. Keybank National Association OH now owns 45,675 shares of the investment management company’s stock worth $851,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 36.31% of the company’s stock.

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.

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