Ares Capital Corporation (ARCC) : Traders are bullish on Ares Capital Corporation (ARCC) as it has outperformed the S&P 500 by a wide margin of 3.44% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.45%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.42% in the last 1 week, and is up 3.84% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Ares Capital Corporation is up 6.01% in the last 3-month period. Year-to-Date the stock performance stands at 16.15%. The stock has recorded a 20-day Moving Average of 2.02% and the 50-Day Moving Average is 6.73%.
Ares Capital Corporation (NASDAQ:ARCC): The stock opened at $15.64 on Friday but the bulls could not build on the opening and the stock topped out at $15.75 for the day. The stock traded down to $15.62 during the day, due to lack of any buying support eventually closed down at $15.68 with a loss of -0.19% for the day. The stock had closed at $15.71 on the previous day. The total traded volume was 1,351,315 shares.
Also, In a research note released to the investors, UBS maintains its rating on Ares Capital Corporation (NASDAQ:ARCC).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, UBS lowers the new price target from $19 per share to $17.5 per share. The rating by the firm was issued on August 18, 2016.
Ares Capital Corporation is a specialty finance company that is engaged in closed-end, non-diversified management investment businesses. The Companys investment objective is to generate both current income and capital appreciation through debt and equity investments, investing invest primarily in United States middle-market companies. The Company primarily has three areas of focus: Corporate, non-syndicated senior debt, mezzanine debt and non-control equity to middle-market companies; Project Finance: high yield senior and mezzanine debt to finance power generation projects; Venture Finance, senior secured loans to early-stage and emerging growth companies backed by venture capital firms. The Company invests in sectors, such as Healthcare Services, Business Services, Education, Energy, Restaurants and Food Services, Financial Services among others. The Company is externally managed by its investment adviser, Ares Capital Management LLC.