A company insider recently bought 2,500 shares of Ares Capital Corporation [ARCC]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ares Capital Corporation shares valued at $47,600 were purchased by ROLL PENELOPE F on Sep 14. At $19.04 per share, ROLL PENELOPE F acquired 2,500 shares. The insider’s holdings grew to 54,500 shares worth approximately $1.01 million following the completion of this transaction.

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Also, HENSON MARY BETH purchased 9,000 shares, netting a total of over 177,930 in proceeds. Following the buying of shares at $19.77 each, the insider now holds 20,000 shares.

Before that, ROLL PENELOPE F had added 25,000 shares to its account. In a trade valued at $494,250, the Chief Financial Officer bought Ares Capital Corporation shares for $19.77 each. Upon closing the transaction, the insider’s holdings increased to 25,000 shares, worth approximately $0.96 million.

As published in a research note from Hovde Group on April 28, 2022, Ares Capital Corporation [ARCC] has been rated up from a Market perform to an Outperform. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late April. As of March 07, 2022, Hovde Group has initiated its “Market perform” rating for ARCC. Earlier on December 03, 2021, Janney initiated its rating. Their recommendation was “a Buy” for ARCC stock.

Analyzing ARCC’s Price Performance

On Wednesday, Ares Capital Corporation [NASDAQ: ARCC] plunged -0.54% to $18.52. The stock’s lowest price that day was $18.52, but it reached a high of $18.905 in the same session. During the last five days, there has been a drop of approximately -2.68%. Over the course of the year, Ares Capital Corporation shares have dropped approximately -12.19%. Shares of the company reached a 52-week high of $23.00 on 02/09/22 and a 52-week low of $17.03 on 06/16/22. A 50-day SMA is recorded $19.69, while a 200-day SMA reached $20.25.

Support And Resistance Levels for Ares Capital Corporation (ARCC)

According to the 24-hour chart, there is a support level at 18.39, which, if violated, would cause prices to drop to 18.26. In the upper region, resistance lies at 18.78. The next price resistance is at 19.03. RSI (Relative Strength Index) is 33.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Ares Capital Corporation subject to short interest?

Stocks of Ares Capital Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.69 million shares to 20.71 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 20.02 million shares. A jump of 3.33% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.91 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.91.

Which companies own the most shares of Ares Capital Corporation (ARCC)?

In terms of Ares Capital Corporation share price expectations, FactSet research, analysts set an average price target of $21.54 in the next 12 months, up nearly 12.78% from the previous closing price of $18.62. Analysts anticipate Ares Capital Corporation stock to reach $24.00 by 2022, with the lowest price target being $20.00. In spite of this, 14 analysts ranked Ares Capital Corporation stock as a Buy at the end of 2022.


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