Rep. Pete Sessions Sells Off Ares Capital Corporation (NASDAQ:ARCC) Stock

Representative Pete Sessions (Republican-Texas) recently sold shares of Ares Capital Corporation (NASDAQ:ARCC). In a filing disclosed on July 24th, the Representative disclosed that they had sold between $1,001 and $15,000 in Ares Capital stock on July 24th. The trade occurred in the Representative’s “IRA ONE” account.

Ares Capital Price Performance

Shares of ARCC opened at $18.89 on Tuesday. The firm has a market capitalization of $13.56 billion, a PE ratio of 11.59 and a beta of 0.56. The company’s 50-day moving average is $18.66 and its 200-day moving average is $18.94. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.12. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. Equities analysts forecast that Ares Capital Corporation will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Investment Partners Asset Management Inc. bought a new position in Ares Capital during the 4th quarter valued at $1,314,000. Sound Income Strategies LLC grew its stake in shares of Ares Capital by 5.6% in the 4th quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock worth $54,691,000 after acquiring an additional 138,857 shares in the last quarter. Tectonic Advisors LLC raised its holdings in shares of Ares Capital by 10.8% in the fourth quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock valued at $13,403,000 after purchasing an additional 64,491 shares during the last quarter. Stableford Capital II LLC lifted its position in shares of Ares Capital by 75.7% during the fourth quarter. Stableford Capital II LLC now owns 145,641 shares of the investment management company’s stock valued at $2,946,000 after purchasing an additional 62,768 shares in the last quarter. Finally, Prairiewood Capital LLC grew its position in Ares Capital by 22.9% in the 4th quarter. Prairiewood Capital LLC now owns 303,282 shares of the investment management company’s stock worth $6,135,000 after purchasing an additional 56,465 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. JPMorgan Chase & Co. lowered their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Royal Bank Of Canada reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

About Representative Sessions

Pete Sessions (Republican Party) is a member of the U.S. House, representing Texas’ 17th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Sessions (Republican Party) ran for re-election to the U.S. House to represent Texas’ 17th Congressional District. He won in the general election on November 5, 2024.

On October 20, 2023, Sessions announced he was running to replace Kevin McCarthy (R) as speaker of the U.S. House in the 118th Congress. Sessions lost the first round of nomination voting on October 24, 2023.

Pete Sessions was born and lives in Waco, Texas. Sessions earned a B.S. from Southwestern University in 1978. Sessions’ career experience includes working as an executive with AT&T.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.