Ares Management Corp (NYSE:ARES) Director Ares Management Llc sold 350,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $0.10, for a total value of $35,000.00. Following the completion of the transaction, the director now owns 86,857 shares in the company, valued at $8,685.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Ares Management Llc also recently made the following trade(s):
- On Thursday, August 15th, Ares Management Llc sold 3,500,000 shares of Ares Management stock. The stock was sold at an average price of $0.11, for a total value of $385,000.00.
ARES stock traded down $0.95 during trading on Friday, hitting $27.93. 484,069 shares of the company traded hands, compared to its average volume of 776,468. The firm has a market capitalization of $3.08 billion, a PE ratio of 19.67, a P/E/G ratio of 1.58 and a beta of 1.40. Ares Management Corp has a 1 year low of $16.18 and a 1 year high of $29.53. The company has a 50-day moving average of $28.26 and a 200-day moving average of $25.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.
Ares Management (NYSE:ARES) last issued its earnings results on Wednesday, July 31st. The asset manager reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $300.41 million. Ares Management had a net margin of 7.77% and a return on equity of 22.54%. The company’s revenue was up 88.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Sell-side analysts expect that Ares Management Corp will post 1.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, September 13th. Ares Management’s dividend payout ratio is presently 90.14%.
A number of brokerages have weighed in on ARES. UBS Group upped their target price on Ares Management from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. TheStreet upgraded Ares Management from a “c+” rating to a “b” rating in a report on Friday, August 16th. Zacks Investment Research cut Ares Management from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Barclays initiated coverage on Ares Management in a report on Monday, August 5th. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, Morgan Stanley upped their price objective on Ares Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.29.
A number of hedge funds have recently modified their holdings of ARES. BNP Paribas Arbitrage SA purchased a new stake in Ares Management during the 2nd quarter valued at about $51,000. AGF Investments LLC purchased a new stake in Ares Management during the 2nd quarter valued at about $53,000. Quantamental Technologies LLC purchased a new stake in Ares Management during the 2nd quarter valued at about $71,000. NumerixS Investment Technologies Inc purchased a new stake in Ares Management during the 2nd quarter valued at about $131,000. Finally, Bank of Montreal Can purchased a new stake in Ares Management during the 2nd quarter valued at about $140,000. Institutional investors own 54.13% of the company’s stock.
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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