Ares Management Co. (NYSE:ARES – Get Free Report) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,580,000 shares, a growth of 7.5% from the November 30th total of 3,330,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is currently 2.8 days.
Ares Management Stock Down 1.1 %
Shares of NYSE:ARES traded down $1.99 during mid-day trading on Wednesday, hitting $177.03. 591,579 shares of the company traded hands, compared to its average volume of 1,150,383. The firm has a market cap of $55.42 billion, a P/E ratio of 81.58, a PEG ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day simple moving average is $173.95 and its 200 day simple moving average is $156.42. Ares Management has a 52-week low of $112.83 and a 52-week high of $185.06.
Ares Management (NYSE:ARES – Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the previous year, the business posted $0.83 EPS. On average, equities analysts anticipate that Ares Management will post 4.06 EPS for the current year.
Ares Management Dividend Announcement
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ARES. The Goldman Sachs Group lifted their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays boosted their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada lifted their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, StockNews.com raised Ares Management from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.33.
View Our Latest Stock Analysis on ARES
Insider Buying and Selling at Ares Management
In other news, insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $167.99, for a total value of $6,719,600.00. Following the sale, the insider now directly owns 304,202 shares in the company, valued at $51,102,893.98. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 20,096 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $167.44, for a total value of $3,364,874.24. Following the completion of the sale, the chief executive officer now owns 229,904 shares of the company’s stock, valued at approximately $38,495,125.76. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 634,167 shares of company stock valued at $109,917,647. Company insiders own 1.20% of the company’s stock.
Institutional Investors Weigh In On Ares Management
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in Ares Management by 6.5% in the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after acquiring an additional 4,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ares Management by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after buying an additional 36,476 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Ares Management by 31.2% in the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock valued at $3,545,000 after buying an additional 5,404 shares during the last quarter. Unigestion Holding SA acquired a new position in Ares Management during the 3rd quarter worth $641,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after purchasing an additional 679,462 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.
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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