Ares Management Corp (NYSE:ARES) Insider Sells $134,935.92 in Stock

Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 5,166 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $26.12, for a total transaction of $134,935.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ARES opened at $25.95 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.38 and a beta of 1.43. Ares Management Corp has a twelve month low of $16.18 and a twelve month high of $26.79.

Ares Management (NYSE:ARES) last posted its earnings results on Thursday, May 2nd. The asset manager reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $224.66 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.39 earnings per share. Research analysts predict that Ares Management Corp will post 1.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.32 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.28 annualized dividend and a yield of 4.93%. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Delek Group Ltd. raised its holdings in Ares Management by 5.4% in the fourth 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. Janney Montgomery Scott LLC raised its holdings in Ares Management by 2.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 41,400 shares of the asset manager’s stock worth $736,000 after purchasing an additional 1,000 shares during the period. Belpointe Asset Management LLC raised its holdings in Ares Management by 142.5% in the fourth 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. Morgan Stanley raised its holdings in Ares Management by 128.5% in the third quarter. Morgan Stanley now owns 234,539 shares of the asset manager’s stock worth $5,441,000 after purchasing an additional 131,900 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in Ares Management in the fourth quarter worth $40,000. Institutional investors own 60.03% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Ares Management from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. ValuEngine lowered shares of Ares Management from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.00.

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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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