The stock of Ares Capital Corporation (NASDAQ:ARCC) is a huge mover today! About 2.04M shares traded hands. Ares Capital Corporation (NASDAQ:ARCC) has risen 9.94% since March 11, 2016 and is uptrending. It has outperformed by 4.49% the S&P500.
The move comes after 5 months negative chart setup for the $4.78B company. It was reported on Oct, 14 by Barchart.com. We have $14.05 PT which if reached, will make NASDAQ:ARCC worth $382.40 million less.
Analysts await Ares Capital Corporation (NASDAQ:ARCC) to report earnings on November, 2. They expect $0.38 EPS, down 7.32% or $0.03 from last year’s $0.41 per share. ARCC’s profit will be $118.95M for 10.05 P/E if the $0.38 EPS becomes a reality. After $0.39 actual EPS reported by Ares Capital Corporation for the previous quarter, Wall Street now forecasts -2.56% negative EPS growth.
Ares Capital Corporation (NASDAQ:ARCC) Ratings Coverage
Out of 9 analysts covering Ares Capital (NASDAQ:ARCC), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. Ares Capital has been the topic of 10 analyst reports since August 21, 2015 according to StockzIntelligence Inc. UBS maintained it with “Buy” rating and $17.50 target price in Thursday, August 18 report. On Friday, August 28 the stock rating was upgraded by Raymond James to “Outperform”. Barclays Capital maintained Ares Capital Corporation (NASDAQ:ARCC) rating on Thursday, February 25. Barclays Capital has “Overweight” rating and $16 price target. On Tuesday, August 9 the stock rating was maintained by JMP Securities with “Market Outperform”. The company was maintained on Friday, August 21 by Citigroup. As per Tuesday, June 28, the company rating was initiated by National Securities. The rating was initiated by DA Davidson on Wednesday, September 30 with “Buy”. The firm earned “Outperform” rating on Thursday, October 1 by Macquarie Research.
According to Zacks Investment Research, “ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies.”
Insitutional Activity: The institutional sentiment increased to 1.27 in 2016 Q2. Its up 0.43, from 0.84 in 2016Q1. The ratio is positive, as 26 funds sold all Ares Capital Corporation shares owned while 87 reduced positions. 33 funds bought stakes while 111 increased positions. They now own 153.44 million shares or 10.49% more from 138.87 million shares in 2016Q1.
Van Eck Associate has 0.07% invested in the company for 1.02 million shares. Moreover, Schroder Mngmt Grp Inc has 0.03% invested in Ares Capital Corporation (NASDAQ:ARCC) for 1.15M shares. Baldwin Brothers Ma holds 0.02% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC) for 6,000 shares. Henderson Group Incorporated Public Limited has invested 0.4% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC). Oppenheimer Com has invested 0.01% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC). Texas Yale Capital Corporation last reported 69,925 shares in the company. The Massachusetts-based Putnam Fl Inv Com has invested 0.69% in Ares Capital Corporation (NASDAQ:ARCC). Citigroup accumulated 1.16M shares or 0.02% of the stock. Palisade Capital Mgmt Ltd Co Nj holds 0.1% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC) for 194,800 shares. Cubic Asset Limited Com, a Massachusetts-based fund reported 226,178 shares. Envestnet Asset holds 47,758 shares or 0% of its portfolio. Suntrust Banks Inc has invested 0% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC). Kayne Anderson L P holds 68,900 shares or 0.01% of its portfolio. Westport Resources Mgmt owns 20,965 shares or 0.1% of their US portfolio. Delphi Mngmt Ma holds 147,872 shares or 1.35% of its portfolio.
More important recent Ares Capital Corporation (NASDAQ:ARCC) news were published by: Prnewswire.com which released: “Ares Capital Corporation To Acquire American Capital, Ltd. In Transaction …” on May 23, 2016, also Fool.com published article titled: “Ares Capital Corporation Stock in 3 Charts”, Businesswire.com published: “Ares Capital Corporation Prices Public Offering of $600.0 Million 3.625% Notes …” on September 14, 2016. More interesting news about Ares Capital Corporation (NASDAQ:ARCC) was released by: Businesswire.com and their article: “Ares Capital Corporation Highlights Second Quarter 2016 Financing Commitments” with publication date: August 04, 2016.
ARCC Company Profile
Ares Capital Corporation, incorporated on April 16, 2004, is a specialty finance firm that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Firm invests primarily in the United States middle-market companies. The Firm invests in first lien senior secured loans (including unitranche loans, which are loans that combine both senior and mezzanine debt, generally in a first lien position), second lien senior secured loans and mezzanine debt, which in some cases includes an equity component. First and second lien senior secured loans generally are senior debt instruments that rank ahead of subordinated debt of a given portfolio company. Mezzanine debt is subordinated to senior loans and is generally unsecured.
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