Ares Capital Corporation (ARCC)’s Trend Down, Especially After Forming a Bearish Double Bottom Chart Pattern

March 22, 2018 - By Vivian Park

Investors sentiment decreased to 0.96 in Q3 2017. Its down 0.17, from 1.13 in 2017Q2. It dropped, as 55 investors sold Ares Capital Corporation shares while 104 reduced holdings. 35 funds opened positions while 118 raised stakes. 161.57 million shares or 5.32% less from 170.64 million shares in 2017Q2 were reported.
Trexquant Inv L P stated it has 0.06% in Ares Capital Corporation (NASDAQ:ARCC). 91,770 were reported by Rbf Llc. Tci Wealth Advsrs Incorporated invested in 0% or 500 shares. Fort Washington Inv Inc Oh invested 0.05% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC). Evanson Asset Mngmt Limited Com invested in 0.06% or 18,297 shares. Frontier Investment Mngmt invested in 0.95% or 699,105 shares. Cornerstone Cap reported 0.34% of its portfolio in Ares Capital Corporation (NASDAQ:ARCC). Reilly Limited owns 204 shares or 0% of their US portfolio. Thornburg Invest Mngmt stated it has 15.30 million shares or 1.79% of all its holdings. Lpl Fin Llc reported 719,010 shares. The New Jersey-based Advisors Cap Mngmt Ltd has invested 2.03% in Ares Capital Corporation (NASDAQ:ARCC). Cwm Ltd Liability Corporation owns 146 shares for 0% of their portfolio. Moody Fincl Bank Trust Division invested in 0.02% or 23,175 shares. Private Trust Na holds 0.11% or 29,538 shares. Telemus Capital Limited invested 1% in Ares Capital Corporation (NASDAQ:ARCC).

Since January 23, 2018, it had 4 buys, and 0 insider sales for $443,850 activity. $47,430 worth of Ares Capital Corporation (NASDAQ:ARCC) was bought by ROLL PENELOPE F. The insider Arougheti Michael J bought 25,000 shares worth $390,000.

The chart of Ares Capital Corporation (ARCC) shows a double bottom with $14.69 target or 7.00 % below today’s $15.80 share price. The 8 months chart pattern indicates high risk for the $6.74B company. It was reported on Mar, 22 by If the $14.69 price target is reached, the company will be worth $471.45M less. Double bottoms are rare but powerful chart patterns.

The stock increased 3.46% or $0.528 during the last trading session, reaching $15.798. About 4.43 million shares traded or 110.37% up from the average. Ares Capital Corporation (NASDAQ:ARCC) has risen 9.72% since March 22, 2017 and is uptrending. It has underperformed by 6.98% the S&P500.

Analysts await Ares Capital Corporation (NASDAQ:ARCC) to report earnings on May, 2. They expect $0.37 EPS, up 15.63 % or $0.05 from last year’s $0.32 per share. ARCC’s profit will be $157.74 million for 10.67 P/E if the $0.37 EPS becomes a reality. After $0.38 actual EPS reported by Ares Capital Corporation for the previous quarter, Wall Street now forecasts -2.63 % negative EPS growth.

Ares Capital Corporation (NASDAQ:ARCC) Ratings Coverage

Among 17 analysts covering Ares Capital (NASDAQ:ARCC), 12 have Buy rating, 0 Sell and 5 Hold. Therefore 71% are positive. Ares Capital has $19.5 highest and $15.0 lowest target. $17.46’s average target is 10.52% above currents $15.798 stock price. Ares Capital had 26 analyst reports since August 21, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Friday, September 22 with “Buy”. Jefferies maintained Ares Capital Corporation (NASDAQ:ARCC) rating on Thursday, November 2. Jefferies has “Buy” rating and $19.5 target. The stock has “Hold” rating by BMO Capital Markets on Friday, October 6. UBS maintained Ares Capital Corporation (NASDAQ:ARCC) rating on Thursday, August 18. UBS has “Buy” rating and $17.50 target. RBC Capital Markets maintained the stock with “Hold” rating in Thursday, August 3 report. The stock of Ares Capital Corporation (NASDAQ:ARCC) earned “Outperform” rating by Macquarie Research on Thursday, October 1. Barclays Capital maintained Ares Capital Corporation (NASDAQ:ARCC) on Thursday, February 25 with “Overweight” rating. The stock has “Buy” rating by Keefe Bruyette & Woods on Thursday, October 5. The rating was initiated by Oppenheimer with “Buy” on Wednesday, September 20. The company was maintained on Friday, August 21 by Citigroup.

Another recent and important Ares Capital Corporation (NASDAQ:ARCC) news was published by which published an article titled: “Ares Capital Corporation to Present at Upcoming Conferences” on February 27, 2018.

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