Several big investors have recently changed their shares of Ares Capital (ARCC). Jamison Private Wealth Management increased its stake by 62.7%, now owning 1,233 shares worth $26,000 after buying 475 more. Asset Dedication LLC also bought shares worth $26,000 in Q2. Valley National Advisers boosted its shares by 323.3% to 1,435 shares valued at $29,000. Hobbs Group Advisors bought shares worth $32,000 in Q2, and nVerses Capital raised its stake by 88.9%, now owning 1,700 shares worth $35,000. Institutional investors own 27.38% of ARCC.
Ares Capital Stock Performance
Ares Capital (NASDAQ:ARCC) traded at $21.08, up by $0.07. The trading volume reached 1,893,385 shares, lower than the average of 3,427,569. The company’s market cap is $12.95 billion with a P/E ratio of 7.22. Its 12-month low and high are $18.55 and $21.84, respectively. The firm shows a debt-to-equity ratio of 1.05 and has moving averages of $20.71 (50 days) and $20.83 (200 days).
Ares Capital announced earnings of $0.61 per share for Q2, exceeding expectations of $0.58. Revenue was $755 million, above predictions of $714 million. Analysts forecast an EPS of 2.39 for the fiscal year.
Dividend Announcement
The company declared a quarterly dividend of $0.48 per share, paid on September 30. This amounts to an annual dividend of $1.92, with a yield of 9.11%, and a payout ratio of 65.75%.
Analysts’ Price Targets
Analysts have recently set new price targets for ARCC. Royal Bank of Canada maintained an outperform rating with a $22.00 target. Compass Point upgraded ARCC to strong-buy. JMP Securities raised its target from $21.00 to $22.00. UBS Group rated it as hold. Currently, there are 3 hold ratings, 5 buy ratings, and 1 strong buy, with a consensus price target of $21.71.
Ares Capital Overview
Ares Capital Corporation focuses on investments in middle-market companies through acquisition, recapitalization, and financing.
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