Ares Capital (NASDAQ:ARCC) CEO Buys $239,125.00 in Stock

Ares Capital Corporation (NASDAQ:ARCC) CEO Michael Kort Schnabel purchased 12,500 shares of Ares Capital stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average cost of $19.13 per share, with a total value of $239,125.00. Following the transaction, the chief executive officer directly owned 40,500 shares of the company’s stock, valued at $774,765. This represents a 44.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Ares Capital Stock Up 0.9%

Shares of Ares Capital stock traded up $0.17 on Monday, reaching $19.48. The company’s stock had a trading volume of 6,643,332 shares, compared to its average volume of 6,148,944. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.63. The firm’s fifty day simple moving average is $20.38 and its two-hundred day simple moving average is $20.86. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 10.47 and a beta of 0.59.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The company had revenue of $793.00 million for the quarter, compared to analysts’ expectations of $795.20 million. During the same period last year, the firm posted $0.55 earnings per share. Ares Capital’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend is Friday, March 13th. Ares Capital’s dividend payout ratio (DPR) is presently 103.23%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ARCC. B. Riley Financial reiterated a “buy” rating on shares of Ares Capital in a research report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a report on Thursday, October 30th. Wells Fargo & Company lowered their target price on Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Royal Bank Of Canada decreased their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Institutional Investors Weigh In On Ares Capital

Hedge funds have recently bought and sold shares of the business. City Holding Co. raised its position in Ares Capital by 444.4% during the third quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the period. SWAN Capital LLC bought a new position in shares of Ares Capital during the 3rd quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in Ares Capital during the 2nd quarter valued at $29,000. NBT Bank N A NY bought a new stake in Ares Capital in the third quarter worth $31,000. Finally, Quarry LP bought a new stake in Ares Capital in the third quarter worth $33,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Company Profile

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.