Ares Capital (ARCC) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Ares Capital (NASDAQ:ARCC) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “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. “

ARCC has been the subject of a number of other research reports. BidaskClub lowered shares of Ares Capital from a sell rating to a strong sell rating in a research note on Tuesday, December 5th. National Securities reaffirmed a buy rating and issued a $19.00 price objective on shares of Ares Capital in a research note on Friday, November 3rd. Compass Point began coverage on shares of Ares Capital in a research note on Wednesday, December 6th. They issued a buy rating and a $17.50 price objective for the company. TheStreet lowered shares of Ares Capital from a b rating to a c+ rating in a research note on Monday, November 13th. Finally, Wedbush began coverage on shares of Ares Capital in a research note on Monday, November 27th. They issued an outperform rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $18.00.

Ares Capital (NASDAQ:ARCC) opened at $15.46 on Wednesday. Ares Capital has a 52 week low of $15.03 and a 52 week high of $17.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $6,633.22, a P/E ratio of 12.17, a P/E/G ratio of 3.32 and a beta of 0.62.

A number of hedge funds have recently added to or reduced their stakes in the business. M&R Capital Management Inc. lifted its position in Ares Capital by 2.8% in the 2nd quarter. M&R Capital Management Inc. now owns 11,755 shares of the investment management company’s stock worth $188,000 after buying an additional 320 shares in the last quarter. IHT Wealth Management LLC lifted its position in Ares Capital by 33.5% in the 2nd quarter. IHT Wealth Management LLC now owns 4,568 shares of the investment management company’s stock worth $196,000 after buying an additional 1,147 shares in the last quarter. Sciencast Management LP lifted its position in Ares Capital by 27.1% in the 2nd quarter. Sciencast Management LP now owns 14,647 shares of the investment management company’s stock worth $240,000 after buying an additional 3,125 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Ares Capital by 2.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 133,545 shares of the investment management company’s stock worth $2,191,000 after buying an additional 3,168 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its position in Ares Capital by 46.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 11,811 shares of the investment management company’s stock worth $194,000 after buying an additional 3,756 shares in the last quarter. Institutional investors own 43.47% of the company’s stock.

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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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