Ares Management (NYSE:ARES) Raised to Hold at StockNews.com

Ares Management (NYSE:ARESGet Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Several other equities analysts have also commented on ARES. JPMorgan Chase & Co. lowered their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group increased their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company raised Ares Management from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $176.00 to $212.00 in a research note on Thursday, December 12th. Finally, Barclays boosted their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and an average target price of $169.64.

View Our Latest Report on ARES

Ares Management Price Performance

Shares of Ares Management stock opened at $169.22 on Thursday. The firm has a market cap of $52.98 billion, a PE ratio of 77.98, a PEG ratio of 1.99 and a beta of 1.19. The stock has a 50 day moving average of $171.31 and a 200 day moving average of $153.43. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management has a 12 month low of $112.83 and a 12 month high of $185.06.

Ares Management (NYSE:ARESGet Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same period in the prior year, the firm earned $0.83 EPS. On average, research analysts expect that Ares Management will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ryan Berry sold 14,357 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total value of $2,586,557.12. Following the completion of the sale, the insider now owns 233,214 shares in the company, valued at approximately $42,015,834.24. The trade was a 5.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David B. Kaplan sold 19,775 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $167.45, for a total value of $3,311,323.75. Following the completion of the transaction, the insider now directly owns 230,225 shares in the company, valued at approximately $38,551,176.25. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 634,167 shares of company stock worth $109,917,647 over the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Ares Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Ares Management during the third quarter valued at approximately $36,000. Eastern Bank bought a new stake in Ares Management during the 3rd quarter valued at $39,000. Key Financial Inc purchased a new position in shares of Ares Management in the 2nd quarter valued at $53,000. Industrial Alliance Investment Management Inc. increased its holdings in shares of Ares Management by 80.4% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 201 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Ares Management in the 2nd quarter worth $78,000. 50.03% of the stock is currently owned by institutional investors.

Ares Management Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Ares Management (NYSE:ARES)

Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.