Ares Capital Corporation (ARCC) has been under a strong bear grip, hence the stock is down -2.27% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.93% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.44% in the last 1 week, and is up 2% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 1.01% and the 50-Day Moving Average is 0.68%.
Ares Capital Corporation (NASDAQ:ARCC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.20 and $14.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.30, notching a gain of 0.63% for the day. The total traded volume was 1,325,894 . The stock had closed at $14.21 on the previous day.
The company Insiders own 0.57% of Ares Capital Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 7.14% . Institutional Investors own 46.63% of Ares Capital Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 14.97%. In a related news, Bartlett Steve, director of Ares Capital Corp had purchased 200 shares on June 20, 2016 in a transaction. The price per share was $14.2 and the total amount of the disclosed transaction was $2,840.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
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.