Ares Management Corp (NYSE:ARES) Insider Sells $256,691.00 in Stock

Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 6,515 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $39.40, for a total value of $256,691.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

R. Kipp Deveer also recently made the following trade(s):

  • On Friday, July 31st, R. Kipp Deveer sold 637 shares of Ares Management stock. The shares were sold at an average price of $40.02, for a total value of $25,492.74.
  • On Wednesday, July 29th, R. Kipp Deveer sold 33,497 shares of Ares Management stock. The shares were sold at an average price of $40.37, for a total value of $1,352,273.89.
  • On Friday, July 24th, R. Kipp Deveer sold 102,384 shares of Ares Management stock. The shares were sold at an average price of $39.06, for a total value of $3,999,119.04.
  • On Wednesday, July 22nd, R. Kipp Deveer sold 1,848 shares of Ares Management stock. The shares were sold at an average price of $41.03, for a total value of $75,823.44.
  • On Monday, July 20th, R. Kipp Deveer sold 53,375 shares of Ares Management stock. The shares were sold at an average price of $41.11, for a total value of $2,194,246.25.
  • On Wednesday, July 15th, R. Kipp Deveer sold 34,464 shares of Ares Management stock. The shares were sold at an average price of $40.29, for a total value of $1,388,554.56.
  • On Monday, July 13th, R. Kipp Deveer sold 1,390 shares of Ares Management stock. The shares were sold at an average price of $40.01, for a total value of $55,613.90.
  • On Thursday, July 2nd, R. Kipp Deveer sold 100 shares of Ares Management stock. The shares were sold at an average price of $40.02, for a total value of $4,002.00.
  • On Monday, June 22nd, R. Kipp Deveer sold 81,393 shares of Ares Management stock. The shares were sold at an average price of $40.05, for a total value of $3,259,789.65.
  • On Monday, May 4th, R. Kipp Deveer sold 8,274 shares of Ares Management stock. The shares were sold at an average price of $31.81, for a total value of $263,195.94.

NYSE:ARES opened at $39.94 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $9.89 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.46 and a beta of 1.28. The firm’s 50 day moving average is $39.32 and its 200 day moving average is $35.86. Ares Management Corp has a 12 month low of $20.20 and a 12 month high of $41.88.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Wednesday, May 6th. The asset manager reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $411.80 million for the quarter, compared to analysts’ expectations of $369.82 million. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. During the same quarter in the previous year, the firm posted $0.35 EPS. Research analysts predict that Ares Management Corp will post 1.66 earnings per share for the current year.

A number of equities analysts have issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of Ares Management in a research note on Wednesday, May 6th. Barclays boosted their target price on Ares Management from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Credit Suisse Group boosted their target price on Ares Management from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Wells Fargo & Co boosted their target price on Ares Management from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Zacks Investment Research downgraded Ares Management from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.45.

Several large investors have recently bought and sold shares of ARES. Comerica Bank boosted its position in Ares Management by 23.7% during the second quarter. Comerica Bank now owns 8,092 shares of the asset manager’s stock valued at $330,000 after buying an additional 1,548 shares during the period. Peregrine Capital Management LLC boosted its position in Ares Management by 3.3% during the second quarter. Peregrine Capital Management LLC now owns 950,700 shares of the asset manager’s stock valued at $37,743,000 after buying an additional 30,142 shares during the period. Stelac Advisory Services LLC boosted its position in Ares Management by 25.3% during the second quarter. Stelac Advisory Services LLC now owns 24,219 shares of the asset manager’s stock valued at $961,000 after buying an additional 4,884 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ares Management by 49.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,656 shares of the asset manager’s stock valued at $423,000 after buying an additional 3,547 shares during the period. Finally, Heard Capital LLC boosted its holdings in shares of Ares Management by 25.0% during the second quarter. Heard Capital LLC now owns 24,991 shares of the asset manager’s stock worth $992,000 after purchasing an additional 4,991 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Ares Management Company Profile

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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