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Ares Capital Corporation (ARCC) Is Up 1.80% in 2024 With Lots of Room to Run

Ares Capital Corporation (NASDAQ: ARCC) is 1.80% higher on its value in year-to-date trading and has touched a low of $17.53 and a high of $20.86 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ARCC stock was last observed hovering at around $20.82 in the last trading session, with the day’s loss setting it -0.43%.

Currently trading at $20.39, the stock is 0.44% and 0.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.73 million and changing -2.07% at the moment leaves the stock 3.84% off its SMA200. ARCC registered 14.17% gain for a year compared to 6-month gain of 3.82%. 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 0.79% loss in the last 1 month and extending the period to 3 months gives it a 1.54%, and is 2.00% up 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 1.40% over the week and 1.07% over the month.

Current P/E ratio is 7.61 and Fwd P/E is 9.14. Distance from 52-week low is 16.31% and -2.25% 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 -0.40% 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

774 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 3.02%. 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.

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