R. Kipp Deveer Sells 637 Shares of Ares Management Corp (NYSE:ARES) Stock

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Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 637 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $40.02, for a total transaction of $25,492.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

R. Kipp Deveer also recently made the following trade(s):

  • On Wednesday, July 29th, R. Kipp Deveer sold 33,497 shares of Ares Management stock. The shares were sold at an average price of $40.37, for a total transaction of $1,352,273.89.
  • On Monday, July 27th, R. Kipp Deveer sold 6,515 shares of Ares Management stock. The shares were sold at an average price of $39.40, for a total transaction of $256,691.00.
  • On Friday, July 24th, R. Kipp Deveer sold 102,384 shares of Ares Management stock. The shares were sold at an average price of $39.06, for a total transaction of $3,999,119.04.
  • On Wednesday, July 22nd, R. Kipp Deveer sold 1,848 shares of Ares Management stock. The stock was sold at an average price of $41.03, for a total transaction of $75,823.44.
  • On Monday, July 20th, R. Kipp Deveer sold 53,375 shares of Ares Management stock. The stock was sold at an average price of $41.11, for a total transaction of $2,194,246.25.
  • On Wednesday, July 15th, R. Kipp Deveer sold 34,464 shares of Ares Management stock. The stock was sold at an average price of $40.29, for a total transaction of $1,388,554.56.
  • On Monday, July 13th, R. Kipp Deveer sold 1,390 shares of Ares Management stock. The stock was sold at an average price of $40.01, for a total transaction of $55,613.90.
  • On Thursday, July 2nd, R. Kipp Deveer sold 100 shares of Ares Management stock. The stock was sold at an average price of $40.02, for a total transaction of $4,002.00.
  • On Monday, June 22nd, R. Kipp Deveer sold 81,393 shares of Ares Management stock. The stock was sold at an average price of $40.05, for a total transaction of $3,259,789.65.
  • On Monday, May 4th, R. Kipp Deveer sold 8,274 shares of Ares Management stock. The stock was sold at an average price of $31.81, for a total transaction of $263,195.94.

Shares of NYSE ARES opened at $39.94 on Friday. Ares Management Corp has a fifty-two week low of $20.20 and a fifty-two week high of $41.88. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.47 and a beta of 1.28. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s 50-day simple moving average is $39.32 and its 200 day simple moving average is $35.86.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Wednesday, May 6th. The asset manager reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $411.80 million for the quarter, compared to analysts’ expectations of $369.82 million. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. During the same quarter last year, the firm earned $0.35 EPS. On average, sell-side analysts predict that Ares Management Corp will post 1.66 EPS for the current year.

A number of research firms recently weighed in on ARES. Bank of America increased their price objective on Ares Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 10th. Credit Suisse Group increased their price objective on Ares Management from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods upped their price target on shares of Ares Management from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. BMO Capital Markets raised shares of Ares Management from a “market perform” rating to an “outperform” rating and upped their price target for the company from $40.00 to $47.00 in a research report on Thursday, May 28th. Finally, Wells Fargo & Co increased their price objective on shares of Ares Management from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Ares Management presently has an average rating of “Buy” and an average target price of $42.45.

A number of large investors have recently bought and sold shares of the business. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Ares Management in the 1st quarter valued at about $367,434,000. Capital World Investors increased its stake in Ares Management by 0.3% in the 1st quarter. Capital World Investors now owns 10,215,079 shares of the asset manager’s stock valued at $315,952,000 after buying an additional 28,575 shares during the last quarter. Wellington Management Group LLP increased its stake in Ares Management by 122.9% in the 1st quarter. Wellington Management Group LLP now owns 6,625,147 shares of the asset manager’s stock valued at $204,916,000 after buying an additional 3,652,486 shares during the last quarter. Invesco Ltd. increased its stake in Ares Management by 44.6% in the 1st quarter. Invesco Ltd. now owns 3,306,512 shares of the asset manager’s stock valued at $102,271,000 after buying an additional 1,019,978 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in Ares Management by 3.8% in the 1st quarter. William Blair Investment Management LLC now owns 2,676,607 shares of the asset manager’s stock valued at $82,787,000 after buying an additional 98,736 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

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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