Ares Capital Corporation (NASDAQ: ARCC) is -0.40% lower on its value in year-to-date trading and has touched a low of $16.95 and a high of $20.85 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ARCC stock was last observed hovering at around $20.05 in the last trading session, with the day’s loss setting it -0.1%.
Currently trading at $19.95, the stock is -1.59% and -1.59% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.04 million and changing -0.50% at the moment leaves the stock 1.84% off its SMA200. ARCC registered 14.46% gain for a year compared to 6-month gain of 3.21%. The firm has a 50-day simple moving average (SMA 50) of $7.44 and a 200-day simple moving average (SMA200) of $10.19.
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The stock witnessed a -0.99% loss in the last 1 month and extending the period to 3 months gives it a 1.89%, and is -3.76% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.24% over the week and 0.93% over the month.
Current P/E ratio is 7.44 and Fwd P/E is 8.99. Distance from 52-week low is 17.70% and -4.34% from its 52-week high.
Ares Capital Corporation quarterly earnings per share for the current quarter are estimated at $0.59 with sales reaching $699.55M over the same period.The EPS is expected to shrink by 0.00% this year, but quarterly earnings will post -2.40% year-over-year. Quarterly sales are estimated to grow 13.20% in year-over-year returns.
Ares Capital Corporation (ARCC) Top Institutional Holders
773 institutions hold shares in Ares Capital Corporation (ARCC), with institutional investors hold 29.50% of the company’s shares. The shares outstanding are 606.78M, and float is at 602.53M with Short Float at 4.65%. Institutions hold 29.32% of the Float.
The top institutional shareholder in the company is Royal Bank of Canada with over 12.0 million shares valued at $225.47 million. The investor’s holdings represent 2.15% of the ARCC Shares outstanding. As of Jun 29, 2023, the second largest holder is Morgan Stanley with 11.25 million shares valued at $211.4 million to account for 2.02% of the shares outstanding. The other top investors are Van Eck Associates Corporation which holds 6.73 million shares representing 1.21% and valued at over $126.51 million, while Bank of America Corporation holds 0.96% of the shares totaling 5.33 million with a market value of $100.18 million.
Ares Capital Corporation (ARCC) Insider Activity
The most recent transaction is an insider purchase by SCHNABEL MICHAEL KORT,the company’sCo-President. SEC filings show that SCHNABEL MICHAEL KORT bought 15,000 shares of the company’s common stock on May 02 ’23 at a price of $17.84 per share for a total of $0.27 million. Following the purchase, the insider now owns 15000.0 shares.
