Michael J. Arougheti Sells 48,299 Shares of Ares Management Corp (NYSE:ARES) Stock

Ares Management Corp (NYSE:ARES) CEO Michael J. Arougheti sold 48,299 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $27.31, for a total transaction of $1,319,045.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Michael J. Arougheti also recently made the following trade(s):

  • On Monday, July 15th, Michael J. Arougheti sold 127,400 shares of Ares Management stock. The stock was sold at an average price of $28.30, for a total transaction of $3,605,420.00.
  • On Thursday, July 11th, Michael J. Arougheti sold 274,712 shares of Ares Management stock. The shares were sold at an average price of $27.67, for a total transaction of $7,601,281.04.
  • On Friday, July 5th, Michael J. Arougheti sold 31,266 shares of Ares Management stock. The shares were sold at an average price of $27.09, for a total transaction of $846,995.94.
  • On Monday, July 8th, Michael J. Arougheti sold 127,490 shares of Ares Management stock. The shares were sold at an average price of $27.00, for a total transaction of $3,442,230.00.
  • On Tuesday, July 2nd, Michael J. Arougheti sold 253,922 shares of Ares Management stock. The shares were sold at an average price of $26.52, for a total transaction of $6,734,011.44.
  • On Thursday, June 27th, Michael J. Arougheti sold 78,801 shares of Ares Management stock. The stock was sold at an average price of $25.96, for a total transaction of $2,045,673.96.
  • On Monday, June 24th, Michael J. Arougheti sold 36,209 shares of Ares Management stock. The stock was sold at an average price of $27.18, for a total transaction of $984,160.62.

NYSE:ARES traded up $0.29 on Thursday, reaching $28.43. 385,676 shares of the company’s stock were exchanged, compared to its average volume of 831,102. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. Ares Management Corp has a 52 week low of $16.18 and a 52 week high of $28.63. The company has a fifty day moving average of $26.86.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, May 2nd. The asset manager reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $224.66 million for the quarter, compared to the consensus estimate of $228.42 million. Ares Management had a return on equity of 25.86% and a net margin of 5.22%. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities analysts predict that Ares Management Corp will post 1.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.32 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.50%. Ares Management’s dividend payout ratio (DPR) is currently 90.14%.

Several hedge funds have recently added to or reduced their stakes in ARES. Delek Group Ltd. boosted its stake in Ares Management by 5.4% in the 4th quarter. Delek Group Ltd. now owns 539,720 shares of the asset manager’s stock worth $9,854,000 after purchasing an additional 27,621 shares during the period. Belpointe Asset Management LLC boosted its stake in Ares Management by 142.5% in the 4th quarter. Belpointe Asset Management LLC now owns 16,943 shares of the asset manager’s stock worth $301,000 after purchasing an additional 9,955 shares during the period. Pearl River Capital LLC bought a new position in Ares Management in the 4th quarter worth approximately $40,000. Dimensional Fund Advisors LP boosted its stake in Ares Management by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 152,123 shares of the asset manager’s stock worth $2,705,000 after purchasing an additional 11,572 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Ares Management by 126.2% in the 4th quarter. Brown Advisory Inc. now owns 1,684,985 shares of the asset manager’s stock worth $29,960,000 after purchasing an additional 940,186 shares during the period. Institutional investors own 60.08% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ares Management has a consensus rating of “Buy” and an average target price of $25.00.

Ares Management Company Profile

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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