In a filing, Ares Capital Corporation revealed its Co-President SCHNABEL MICHAEL KORT acquired Company’s shares for reported $0.27 million on May 02. In the deal valued at $17.84 per share,15,000 shares were bought. As a result of this transaction, SCHNABEL MICHAEL KORT now holds 15,000 shares worth roughly $ 0.29 million.
Then, ROLL PENELOPE F bought 3,000 shares, generating $52,320 in total proceeds. Upon buying the shares at $17.44, the Chief Financial Officer now owns 60,500 shares.
Before that, ROLL PENELOPE F bought 3,000 shares. Ares Capital Corporation shares valued at $52,500 were divested by the Chief Financial Officer at a price of $17.50 per share. As a result of the transaction, ROLL PENELOPE F now holds 57,500 shares, worth roughly $1.11 million.
B. Riley Securities initiated its Ares Capital Corporation [ARCC] rating to a Buy in a research note published on Monday, June 16, 2023; the price target was $20.50. PT values the company’s stock at a premium of 5.71 to its Monday closing price.
Price Performance Review of ARCC
On Monday, Ares Capital Corporation [NASDAQ:ARCC] saw its stock jump 0.31% to $19.33. On the same session, the stock had its day’s lowest price of $19.20, but rose to a high of $19.35. Over the last five days, the stock has lost -1.43%. Ares Capital Corporation shares have risen nearly 4.66% since the year began. Nevertheless, the stocks have risen 1.42% over the past one year. While a 52-week high of $20.17 was reached on 02/07/23, a 52-week low of $16.51 was recorded on 03/24/23. SMA at 50 days reached $19.43, while 200 days put it at $18.89.
Levels Of Support And Resistance For ARCC Stock
The 24-hour chart illustrates a support level at 19.24, which if violated will result in even more drops to 19.14. On the upside, there is a resistance level at 19.39. A further resistance level may holdings at 19.44. The Relative Strength Index (RSI) on the 14-day chart is 47.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.81%. Stochastics %K at 19.58% indicates the stock is a buying.
How much short interest is there in Ares Capital Corporation?
A steep rise in short interest was recorded in Ares Capital Corporation stocks on Aug 30, 2023, dropping by -1.01 million shares to a total of 17.89 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 18.9 million shares. There was a decline of -5.65%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.23% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.77.
According to FactSet, Ares Capital Corporation’s share price will average $20.95 in the next year, based on opinions of analysts polled by the firm. This is up nearly 8.98 percent from its previous closing price of $19.27. Analysts expect Ares Capital Corporation stock to reach the higher price of $24.00, while the lowest price estimate is $19.75. However, 16 analysts have rated ARCC stock as a Buy in their predictions for 2023.