Ares Management (NYSE:ARES) Rating Increased to Hold at StockNews.com

Ares Management (NYSE:ARES) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other research firms have also recently commented on ARES. JPMorgan Chase & Co. dropped their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. UBS Group lifted their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen boosted their price target on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group upped their price target on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ares Management presently has a consensus rating of “Hold” and a consensus target price of $166.36.

Ares Management Stock Up 0.6 %

Shares of NYSE ARES traded up $1.10 on Tuesday, reaching $175.05. 825,711 shares of the company’s stock traded hands, compared to its average volume of 1,163,388. The business’s 50 day simple moving average is $166.67 and its two-hundred day simple moving average is $150.83. Ares Management has a 12 month low of $107.69 and a 12 month high of $180.38. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 80.67, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the prior year, the firm posted $0.83 EPS. As a group, equities research analysts forecast that Ares Management will post 4.06 EPS for the current fiscal year.

Insider Activity at Ares Management

In related news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 666,030 shares of company stock valued at $109,779,010. 41.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ares Management

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in Ares Management by 0.5% in the third quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock worth $600,830,000 after purchasing an additional 18,773 shares during the last quarter. Tidal Investments LLC grew its stake in Ares Management by 9.3% in the third quarter. Tidal Investments LLC now owns 12,798 shares of the asset manager’s stock worth $1,994,000 after purchasing an additional 1,091 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Ares Management by 53.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,620 shares of the asset manager’s stock worth $1,655,000 after purchasing an additional 3,715 shares during the period. Morse Asset Management Inc raised its holdings in shares of Ares Management by 0.7% in the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock valued at $2,187,000 after acquiring an additional 95 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Ares Management in the 3rd quarter valued at about $2,036,000. 50.03% of the stock is owned by institutional investors.

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.