Ares Management Co. (NYSE:ARES – Get Free Report) insider Ryan Berry sold 40,000 shares of Ares Management stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $104.81, for a total value of $4,192,400.00. Following the sale, the insider now directly owns 444,661 shares in the company, valued at $46,604,919.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Ares Management Price Performance
ARES opened at $105.35 on Tuesday. The company has a fifty day moving average price of $101.19 and a two-hundred day moving average price of $90.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 0.97. Ares Management Co. has a 52 week low of $58.60 and a 52 week high of $106.77. The firm has a market capitalization of $32.08 billion, a PE ratio of 64.63, a P/E/G ratio of 1.06 and a beta of 1.32.
Ares Management (NYSE:ARES – Get Free Report) last released its earnings results on Tuesday, August 1st. The asset manager reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Ares Management had a net margin of 8.79% and a return on equity of 17.56%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $725.82 million. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, analysts anticipate that Ares Management Co. will post 3.69 earnings per share for the current year.
Ares Management Dividend Announcement
Hedge Funds Weigh In On Ares Management
Several institutional investors and hedge funds have recently made changes to their positions in ARES. Boston Partners acquired a new position in shares of Ares Management in the 1st quarter valued at $268,186,000. CIBC Private Wealth Group LLC grew its holdings in shares of Ares Management by 538.4% in the 1st quarter. CIBC Private Wealth Group LLC now owns 1,872,686 shares of the asset manager’s stock valued at $156,257,000 after buying an additional 1,579,332 shares during the period. Norges Bank acquired a new position in shares of Ares Management in the 4th quarter valued at $107,777,000. Bank of New York Mellon Corp grew its holdings in shares of Ares Management by 75.7% in the 1st quarter. Bank of New York Mellon Corp now owns 2,928,120 shares of the asset manager’s stock valued at $244,322,000 after buying an additional 1,261,229 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Ares Management by 159.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,502,659 shares of the asset manager’s stock valued at $125,383,000 after buying an additional 922,675 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Ares Management from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company raised their price target on shares of Ares Management from $97.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. StockNews.com started coverage on shares of Ares Management in a research note on Thursday, August 17th. They set a “sell” rating for the company. The Goldman Sachs Group raised their price target on shares of Ares Management from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Finally, Barclays raised their price target on shares of Ares Management from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ares Management currently has an average rating of “Hold” and an average target price of $105.00.
About Ares Management
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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