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Ares Capital Corporation (ARCC) is a specialty finance company, which is a closed-end, non-diversified management investment company.
The Company’s wholly owned subsidiaries and vehicles managed or sub-managed by its wholly owned portfolio company, Ivy Hill Asset Management, L.P. (IHAM). It is externally managed by its investment adviser, Ares Capital Management LLC (Ares Capital Management or its investment adviser), a wholly owned subsidiary of Ares Management LLC (Ares Management), a global alternative asset manager. Ares Operations LLC (Ares Operations or administrator), its administrator, a wholly owned subsidiary of Ares Management, provides the administrative services.
It invests in United States middle-market companies. It invests in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component. It also makes preferred and/or common equity investments. Shares are heading higher in an upward trading channel. Presently, shares are the lower boundary of the said channel. Prices are expected to head higher from the present level.
52-Week Trading Range: $12.76 - $17.68
Last Trade: $17.20
Stop Loss: $16.35
Target Price: $18.93
Stock did not achieve our 10% objective in 30-days. It did however, moved up 6% during the past 30 days. We closed the position and moved the proceeds into CLMT.
