Ares Management Co. (NYSE:ARES) Sees Large Increase in Short Interest

Ares Management Co. (NYSE:ARES) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 3,770,000 shares, a growth of 16.0% from the September 30th total of 3,250,000 shares. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is currently 3.3 days.

Ares Management Stock Down 0.9 %

NYSE ARES opened at $168.92 on Thursday. Ares Management has a 12 month low of $96.00 and a 12 month high of $171.78. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market cap of $52.33 billion, a PE ratio of 75.75, a P/E/G ratio of 1.48 and a beta of 1.22. The stock’s 50 day moving average is $155.08 and its 200 day moving average is $144.97.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Research analysts predict that Ares Management will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.20%. Ares Management’s payout ratio is 166.82%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARES shares. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target for the company. Wells Fargo & Company upped their target price on shares of Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased 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. Finally, UBS Group boosted their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $159.18.

Insider Activity at Ares Management

In other news, insider David B. Kaplan sold 27,068 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the transaction, the insider now directly owns 222,932 shares of the company’s stock, valued at $32,474,504.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the transaction, the chairman now directly owns 222,828 shares of the company’s stock, valued at $32,459,354.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David B. Kaplan sold 27,068 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,942,995.56. Following the completion of the transaction, the insider now owns 222,932 shares in the company, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 622,640 shares of company stock valued at $91,378,848. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ares Management

Hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in shares of Ares Management by 1.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock worth $1,070,000 after acquiring an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Ares Management by 3.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 97 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Ares Management by 10.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after buying an additional 105 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other 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.