MQS Management LLC Sells 86 Shares of Ares Management Co. (NYSE:ARES)

MQS Management LLC trimmed its stake in Ares Management Co. (NYSE:ARES) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,799 shares of the asset manager’s stock after selling 86 shares during the period. MQS Management LLC’s holdings in Ares Management were worth $240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. bought a new stake in shares of Ares Management during the 4th quarter valued at $1,100,000. EP Wealth Advisors LLC increased its stake in Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock worth $2,705,000 after buying an additional 4,996 shares in the last quarter. Norden Group LLC raised its holdings in Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after acquiring an additional 67,895 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Ares Management by 17.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after acquiring an additional 59,668 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Ares Management during the first quarter worth about $3,434,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Trading Up 0.1 %

Shares of ARES stock opened at $156.66 on Friday. The company has a market cap of $48.54 billion, a PE ratio of 70.25, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $157.53. The stock’s 50 day simple moving average is $145.02 and its two-hundred day simple moving average is $139.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter in the prior year, the firm posted $0.90 EPS. Research analysts predict that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 annualized dividend and a yield of 2.37%. Ares Management’s payout ratio is 166.82%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ARES. JPMorgan Chase & Co. boosted their price target on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Barclays upped their target price on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. TD Cowen lifted their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company initiated coverage on shares of Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.42.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. Insiders have sold 604,316 shares of company stock valued at $87,718,000 in the last ninety days. 1.20% of the stock is owned by company insiders.

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.