Ares Capital Corporation (NASDAQ:ARCC) traded today at a new 52-week high of $22.66. This new high was reached on below average trading volume as 817,000 shares traded hands, while the average 30-day volume is approximately 4.1 million shares.
Ares Capital Corp is a United States-based closed-ended specialty finance company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. The company focuses on investing primarily in U.S. middle-market companies with investment opportunities as well as in larger companies. Its portfolio comprises of first lien senior secured loans, second lien senior secured loans, and mezzanine debt (subordinated unsecured loan), which may include equity components that are diversified by industry and sector. The company may invest in preferred and common equity investments to a lesser proportion. Its revenue mainly consists of interest and dividend income received from the investment made.
Ares Capital Corporation share prices have moved between a 52-week high of $22.66 and a 52-week low of $17.71 and are now trading 27% above that low price at $22.47 per share.
Ares Capital Corporation (NASDAQ:ARCC) is currently priced 67.5% above its average consensus analyst price target of $7.31.
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