Ares Capital (ARCC) was Smart Insider's stock pick of the week after the company's Co-President James Miller bought $933,000 worth of Ares shares at $23.32 apiece on March 3.
Miller did not "appear" to have previously bought stock, and this is a "notable large purchase into strength from an insider who should know the business well," Smart Insider said in a note on Tuesday.
Non-executive Ann Bates also purchased $136,000 worth of company shares on Feb. 11, raising her ownership by 19%, the note added.
Bates' last purchase was in May 2019 and it is "notable" that she is purchasing the stock again after almost six years, the note said.
Smart Insider ranked the stock +1, or strong positive signal, on Thursday.
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