Ares Capital Corporation (NASDAQ:ARCC) traded at a new 52-week high today of $21.06. Approximately 770,000 shares have changed hands today, as compared to an average 30-day volume of 2 million shares.
Ares Capital Corporation (NASDAQ:ARCC) is currently priced 70.2% above its average consensus analyst price target of $6.26.
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.
Over the past year, Ares Capital Corporation has traded in a range of $13.54 to $21.06 and is now at $20.99, 55% above that low.
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