Castle Hook Partners LP Takes Position in Ares Management Corporation $ARES

Castle Hook Partners LP purchased a new stake in Ares Management Corporation (NYSE:ARES) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 173,679 shares of the asset manager’s stock, valued at approximately $28,072,000.

A number of other large investors have also made changes to their positions in ARES. Redmont Wealth Advisors LLC purchased a new stake in shares of Ares Management in the third quarter valued at approximately $40,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Ares Management in the fourth quarter worth approximately $42,000. Elyxium Wealth LLC purchased a new position in Ares Management in the fourth quarter worth approximately $42,000. Washington Trust Advisors Inc. purchased a new position in Ares Management in the third quarter worth approximately $50,000. Finally, AlphaCentric Advisors LLC purchased a new position in Ares Management in the fourth quarter worth approximately $62,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Ares Management from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. The Goldman Sachs Group lowered their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. TD Cowen lowered their price objective on Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Morgan Stanley lowered their price objective on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $162.56.

Ares Management Stock Down 4.9%

NYSE:ARES opened at $128.40 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. The stock’s fifty day moving average is $121.66 and its two-hundred day moving average is $134.35. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $195.26. The stock has a market capitalization of $42.35 billion, a price-to-earnings ratio of 59.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.51.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $1.09 earnings per share. Research analysts anticipate that Ares Management Corporation will post 6.06 EPS for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is presently 251.16%.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.