Ares Capital Corporation (ARCC): Temporary Roadblocks Mean Patience Is Necessary

The stock of Ares Capital Corporation (NASDAQ:ARCC) has been Downgraded to Neutral from Buy by Compass Point in its latest research note that was published on August 23. BMO Capital Markets analysts bumped their recommendation on ARCC stock from Market Perform to Outperform in a separate flash note to investors on August 19.

Ares Capital Corporation, which has current market capitalization of above $8 Billion, published its last quarter earnings on June 30, 2019.

ARCC surged by $0.13 during the normal trading session on Thursday and reaching a high of $19.28 during the day while it closed the day at $19.19. The Ares stock had a high trading volume of 2.04 million shares on that day, which is high compared to the average daily volume of 1.63M shares. ARCC has also gained 1.48% of its value over the past 7 days. However, the stock has surged by 8.54% in the 3 months of the year. Over the past six months meanwhile, it has gained 12.41% while it has added 23.45% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -0.47% from its 3 months high price. However, taking another look at ARCC will indicate that it is trading +8.85% away from its 90-day low. Looking at the bigger picture, the Ares Capital Corporation stock has dropped by -0.47% from its 52-week high while it has surged by +32.34% from its 52-week low price.

On August 14, 2019 McKeever Steven B., Director bought 5425 shares of the company. The average price for that transaction was $18.42 per share, which meant that McKeever Steven B. spent $99928.5 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with CFO, ROLL PENELOPE F purchasing 2000 shares of this stock on August 06, 2019. The average purchasing price for the stock was $18.36 per share, with the purchased stock accruing $36720. Following this transaction, the CFO ROLL PENELOPE F now holds 30510 shares of the company, which is worth around $584266.5.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 93.18%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 90.67%. Over the past 20 days, Ares’s Stochastic %K stood at 96.89% while its Stochastic %D was revealed to be 95.66%.