Shares of Ares Management Co. (NYSE:ARES – Get Rating) have earned an average recommendation of "Hold" from the eleven research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $86.88.
A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Ares Management from $83.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 1st. BMO Capital Markets lowered shares of Ares Management from an "outperform" rating to a "market perform" rating and set a $93.00 price target for the company. in a research report on Monday, November 14th. UBS Group raised their price target on shares of Ares Management from $78.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, November 15th. Barclays raised their price target on shares of Ares Management from $82.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, January 12th. Finally, Morgan Stanley raised their price target on shares of Ares Management from $76.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Monday, October 31st.
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Insider Transactions at Ares Management
In related news, CEO Michael J. Arougheti sold 2,983 shares of Ares Management stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $85.02, for a total value of $253,614.66. Following the sale, the chief executive officer now owns 470,138 shares of the company's stock, valued at approximately $39,971,132.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Ares Management Llc purchased 525,902 shares of the company's stock in a transaction that occurred on Friday, January 27th. The shares were purchased at an average price of $1.80 per share, with a total value of $946,623.60. Following the purchase, the insider now owns 55,329,046 shares of the company's stock, valued at $99,592,282.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 2,983 shares of Ares Management stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $85.02, for a total transaction of $253,614.66. Following the completion of the sale, the chief executive officer now directly owns 470,138 shares in the company, valued at approximately $39,971,132.76. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 3,160,902 shares of company stock valued at $4,917,824 and have sold 922,908 shares valued at $75,009,142. Corporate insiders own 47.38% of the company's stock.
Institutional Investors Weigh In On Ares Management
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARES. Millennium Management LLC boosted its stake in Ares Management by 13,281.6% during the 2nd quarter. Millennium Management LLC now owns 1,100,098 shares of the asset manager's stock worth $62,552,000 after purchasing an additional 1,091,877 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ares Management by 808.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 544,164 shares of the asset manager's stock worth $30,941,000 after purchasing an additional 484,275 shares during the last quarter. Vanguard Group Inc. boosted its stake in Ares Management by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager's stock worth $1,140,328,000 after purchasing an additional 458,646 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ares Management by 45.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,231,985 shares of the asset manager's stock worth $70,051,000 after acquiring an additional 387,039 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Ares Management during the 4th quarter worth $26,201,000. Institutional investors and hedge funds own 47.96% of the company's stock.
Ares Management Stock Performance
Shares of Ares Management stock opened at $82.99 on Wednesday. The firm has a market capitalization of $24.41 billion, a P/E ratio of 93.25, a PEG ratio of 0.74 and a beta of 1.29. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $73.53 and a 200 day moving average price of $72.60. Ares Management has a 52 week low of $53.15 and a 52 week high of $86.06.
Ares Management Company Profile
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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.
Further Reading
- Get a free copy of the StockNews.com research report on Ares Management (ARES)
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