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Ares Management (ARES) Scheduled to Post Earnings on Thursday

Defense World · Feb 2, 2023 02:01

Ares Management (NYSE:ARES – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, February 9th. Analysts expect Ares Management to post earnings of $1.06 per share for the quarter. Individual interested in listening to the company's earnings conference call can do so using this link.

Ares Management Stock Performance

Shares of Ares Management stock opened at $84.66 on Thursday. The firm has a market cap of $24.91 billion, a PE ratio of 95.12, a price-to-earnings-growth ratio of 0.73 and a beta of 1.29. The firm's 50-day simple moving average is $73.65 and its 200-day simple moving average is $72.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.13 and a current ratio of 0.13. Ares Management has a 1 year low of $53.15 and a 1 year high of $86.06.

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Analyst Ratings Changes

Several research firms have commented on ARES. Royal Bank of Canada upped their target price 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. Morgan Stanley upped their price target on shares of Ares Management from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, October 31st. Wells Fargo & Company increased their target price on shares of Ares Management from $78.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, October 28th. StockNews.com assumed coverage on shares of Ares Management in a research report on Wednesday, October 12th. They issued a "sell" rating for the company. Finally, Piper Sandler cut their target price on shares of Ares Management to $86.00 in a research report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ares Management currently has an average rating of "Hold" and a consensus price target of $86.88.

Insider Transactions at Ares Management

In related news, General Counsel Aghili Naseem Sagati sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $84.92, for a total transaction of $1,273,800.00. Following the completion of the transaction, the general counsel now owns 203,082 shares in the company, valued at $17,245,723.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Aghili Naseem Sagati sold 15,000 shares of the business's stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $84.92, for a total value of $1,273,800.00. Following the sale, the general counsel now owns 203,082 shares of the company's stock, valued at $17,245,723.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. The stock was 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 quarter, insiders acquired 3,160,902 shares of company stock worth $4,917,824 and sold 922,908 shares worth $75,009,142. 47.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ares Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Toroso Investments LLC grew its stake in shares of Ares Management by 4.7% in the third quarter. Toroso Investments LLC now owns 4,812 shares of the asset manager's stock valued at $298,000 after acquiring an additional 218 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Ares Management by 2.4% in the third quarter. M&T Bank Corp now owns 19,512 shares of the asset manager's stock worth $1,208,000 after acquiring an additional 451 shares during the last quarter. Advisors Capital Management LLC bought a new position in shares of Ares Management in the third quarter worth about $242,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Ares Management by 6.6% in the third quarter. CIBC Private Wealth Group LLC now owns 59,864 shares of the asset manager's stock worth $3,708,000 after acquiring an additional 3,704 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Ares Management by 1.1% in the third quarter. State Street Corp now owns 2,339,231 shares of the asset manager's stock worth $144,915,000 after acquiring an additional 26,436 shares during the last quarter. 47.96% of the stock is currently owned by institutional investors and hedge funds.

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.