Traders Purchase High Volume of Ares Capital Put Options (ARCC)
Ares Capital Co. (NASDAQ:ARCC) saw some unusual options trading activity on Monday. Traders bought 10,537 put options on the company. This represents an increase of 4,081% compared to the typical volume of 252 put options.
Shares of Ares Capital (NASDAQ:ARCC) traded up $0.17 during trading on Wednesday, reaching $16.08. 2,066,914 shares of the company’s stock were exchanged, compared to its average volume of 2,149,369. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6,850.00, a P/E ratio of 10.24, a P/E/G ratio of 3.32 and a beta of 0.62. Ares Capital has a fifty-two week low of $15.03 and a fifty-two week high of $17.87.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, February 13th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $307.00 million for the quarter, compared to the consensus estimate of $301.38 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. sell-side analysts expect that Ares Capital will post 1.38 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of ARCC. Bessemer Group Inc. increased its position in Ares Capital by 14,542.3% during the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 7,562 shares during the period. Legacy Advisors LLC purchased a new position in Ares Capital during the 3rd quarter valued at $128,000. Van Cleef Asset Management Inc purchased a new position in Ares Capital during the 4th quarter valued at $157,000. Harvest Capital Management Inc purchased a new position in Ares Capital during the 4th quarter valued at $162,000. Finally, Joel Isaacson & Co. LLC purchased a new position in Ares Capital during the 3rd quarter valued at $164,000. 43.62% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. BidaskClub lowered shares of Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. National Securities reiterated a “buy” rating and set a $19.00 price target on shares of Ares Capital in a report on Friday, November 3rd. Compass Point assumed coverage on shares of Ares Capital in a report on Wednesday, December 6th. They set a “buy” rating and a $17.50 price target for the company. Finally, TheStreet lowered shares of Ares Capital from a “b” rating to a “c+” rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.00.
Ares Capital Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as 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. It invests primarily in the United States middle-market companies.
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