Ares Capital Corporation(NASDAQ:ARCC) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $260.018M. Analysts estimated a revenue of $244.500M. The revenues were 6.35% above the estimates. Earnings per share were $0.42. The reported EPS was above estimates by 7.69%. Analysts had estimated an EPS of $0.39.
Ares Capital Corporation (ARCC) made into the market gainers list on Wednesdays trading session with the shares advancing 0.28% or 0.05 points. Due to strong positive momentum, the stock ended at $17.75, which is also near the day’s high of $17.79. The stock began the session at $17.71 and the volume stood at 40,72,300 shares. The 52-week high of the shares is $17.79 and the 52 week low is $12.63. The company has a current market capitalization of $7,561 M and it has 42,59,54,010 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Dec 21, 2016, Steve Bartlett (director) purchased 200 shares at $16.00 per share price.Also, On Nov 8, 2016, Daniel G Jr Kelly (director) purchased 7,500 shares at $15.33 per share price.On Aug 16, 2016, Mitchell S Goldstein (Co-President) purchased 6,472 shares at $15.45 per share price, according to the Form-4 filing with the securities and exchange commission.
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.