|Bid||15.9600 x 3900|
|Ask||15.9700 x 2400|
|Day's Range||15.7210 - 16.0300|
|52 Week Range||15.0100 - 17.8700|
|PE Ratio (TTM)||11.80|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Ares Capital Corp NASDAQ/NGS:ARCC
Sliding loan pricing and increased repayments are continuing to curb the profitability and growth of Business Development Company (BDC) funds that lend to private U.S. midsized companies. BDC share prices have been under pressure as investment income has fallen, which is raising fears about dividend coverage and even dividend cuts, as the funds report results for the three-month period ended June 30. The sector is trading at an average 7% discount to Net Asset Value (NAV), which measures mutual funds’ price per share.
Business development companies are undergoing a sea change as the asset class becomes more institutionalized.