Ares Management Llc Sells 3,500,000 Shares of Ares Management Corp (NYSE:ARES) Stock

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Ares Management Corp (NYSE:ARES) Director Ares Management Llc sold 3,500,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $0.11, for a total value of $385,000.00. Following the completion of the sale, the director now directly owns 86,857 shares in the company, valued at $9,554.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ares Management stock opened at $28.91 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Ares Management Corp has a one year low of $16.18 and a one year high of $29.53. The stock has a market capitalization of $3.12 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.60 and a beta of 1.40. The business’s fifty day moving average is $28.21 and its 200 day moving average is $25.43.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Wednesday, July 31st. The asset manager reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Ares Management had a net margin of 7.77% and a return on equity of 22.54%. The business had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $300.41 million. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 88.4% on a year-over-year basis. As a group, sell-side analysts expect that Ares Management Corp will post 1.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.28 annualized dividend and a dividend yield of 4.43%. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.

ARES has been the topic of a number of recent research reports. Barclays initiated coverage on Ares Management in a research note on Monday, August 5th. They issued an “overweight” rating and a $33.00 target price on the stock. Zacks Investment Research cut Ares Management from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. TheStreet raised Ares Management from a “c+” rating to a “b” rating in a research note on Friday, August 16th. Morgan Stanley increased their target price on Ares Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, UBS Group increased 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ares Management has a consensus rating of “Buy” and an average target price of $28.29.

Several institutional investors have recently added to or reduced their stakes in ARES. Maltese Capital Management LLC boosted its holdings in shares of Ares Management by 18.8% in the 2nd quarter. Maltese Capital Management LLC now owns 653,400 shares of the asset manager’s stock worth $17,099,000 after purchasing an additional 103,400 shares during the period. Waddell & Reed Financial Inc. boosted its holdings in shares of Ares Management by 11.5% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 760,036 shares of the asset manager’s stock worth $19,890,000 after purchasing an additional 78,367 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Ares Management in the 2nd quarter worth approximately $6,745,000. UBS Asset Management Americas Inc. boosted its holdings in shares of Ares Management by 49.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 71,418 shares of the asset manager’s stock worth $1,869,000 after purchasing an additional 23,599 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Ares Management by 3,099.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 156,845 shares of the asset manager’s stock worth $4,105,000 after purchasing an additional 151,942 shares during the period. 54.13% of the stock is currently owned by institutional investors.

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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Insider Buying and Selling by Quarter for Ares Management (NYSE:ARES)

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