Ares Management (NYSE:ARES) PT Lowered to $158.00

Ares Management (NYSE:ARES) had its price objective dropped by equities research analysts at TD Cowen from $168.00 to $158.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target suggests a potential upside of 17.18% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Ares Management from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $132.00 in a research report on Thursday, June 13th. Royal Bank of Canada restated an “outperform” rating and set a $150.00 price target on shares of Ares Management in a research report on Wednesday, May 22nd. UBS Group boosted their price objective on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Barclays dropped their price objective on Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Hold” and a consensus price target of $129.36.

Ares Management Trading Down 0.7 %

Shares of ARES stock opened at $134.83 on Monday. The business has a 50-day moving average price of $138.38 and a two-hundred day moving average price of $131.90. Ares Management has a 12-month low of $93.65 and a 12-month high of $150.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The firm has a market cap of $41.77 billion, a P/E ratio of 60.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.22.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same quarter in the previous year, the firm earned $0.71 EPS. Equities analysts anticipate that Ares Management will post 4.27 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael J. Arougheti sold 157,837 shares of Ares Management stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the transaction, the chief executive officer now directly owns 92,163 shares of the company’s stock, valued at approximately $13,660,399.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total transaction of $19,791,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 157,837 shares of Ares Management stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the transaction, the chief executive officer now directly owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The disclosure for this sale can be found here. Insiders sold a total of 969,315 shares of company stock worth $132,164,160 in the last quarter. 41.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Jackson Wealth Management LLC boosted its stake in Ares Management by 0.6% during the 1st quarter. Jackson Wealth Management LLC now owns 43,761 shares of the asset manager’s stock valued at $5,819,000 after purchasing an additional 253 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Ares Management by 5.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 44,145 shares of the asset manager’s stock valued at $5,850,000 after purchasing an additional 2,399 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Ares Management by 395.5% during the first quarter. Cetera Advisors LLC now owns 39,648 shares of the asset manager’s stock valued at $5,272,000 after buying an additional 31,646 shares during the last quarter. Cetera Investment Advisers increased its holdings in Ares Management by 45.9% in the 1st quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock worth $11,000,000 after buying an additional 26,012 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Ares Management in the 1st quarter worth about $974,000. Institutional investors own 50.03% of the company’s stock.

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.