TritonPoint Partners LLC Purchases Shares of 5,019 Ares Management Corporation $ARES

TritonPoint Partners LLC purchased a new stake in Ares Management Corporation (NYSE:ARES) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,019 shares of the asset manager’s stock, valued at approximately $811,000.

Several other hedge funds also recently added to or reduced their stakes in ARES. AQR Capital Management LLC increased its stake in Ares Management by 116.7% in the first quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock valued at $1,519,000 after purchasing an additional 5,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ares Management by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 70 shares during the last quarter. Empowered Funds LLC increased its stake in Ares Management by 42.7% in the first quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock valued at $909,000 after purchasing an additional 1,853 shares during the last quarter. Focus Partners Wealth increased its stake in Ares Management by 15.3% in the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 252 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Ares Management by 708.2% in the first quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 432 shares during the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Stock Performance

Shares of ARES opened at $134.98 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The firm has a market cap of $44.52 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.51. The company’s 50 day simple moving average is $119.83 and its 200-day simple moving average is $134.80. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same quarter last year, the business posted $1.09 earnings per share. As a group, equities analysts predict that Ares Management Corporation will post 6.06 EPS for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is 251.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARES shares. Citizens Jmp dropped their price target on shares of Ares Management from $205.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group lowered their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. UBS Group set a $148.00 target price on shares of Ares Management in a research report on Friday, February 20th. Finally, Oppenheimer restated an “outperform” rating and set a $146.00 target price (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.56.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.