Ares Management (NYSE:ARES) Sees Unusually-High Trading Volume on Analyst Upgrade

Ares Management Co. (NYSE:ARES) shares saw unusually-strong trading volume on Tuesday after TD Cowen raised their price target on the stock from $162.00 to $175.00. TD Cowen currently has a buy rating on the stock. Approximately 2,875,429 shares were traded during mid-day trading, an increase of 158% from the previous session’s volume of 1,115,388 shares.The stock last traded at $153.88 and had previously closed at $160.56.

Several other equities analysts also recently commented on ARES. Barclays boosted their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group boosted their price target on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group dropped their price target on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted 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. Finally, Wells Fargo & Company lifted their price objective on shares of Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.00.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David B. Kaplan sold 27,068 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,942,995.56. Following the completion of the sale, the insider now directly owns 222,932 shares of the company’s stock, valued at $32,474,504.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction on 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. In the last three months, insiders sold 624,316 shares of company stock valued at $90,919,400. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ares Management

A number of institutional investors and hedge funds have recently made changes to their positions in ARES. Compass Wealth Management LLC acquired a new stake in Ares Management during the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management during the first quarter worth $29,000. West Oak Capital LLC lifted its holdings in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares during the period. J.Safra Asset Management Corp lifted its holdings in shares of Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares during the period. Finally, Key Financial Inc acquired a new stake in shares of Ares Management during the second quarter worth $53,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Up 3.1 %

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $147.42 and a two-hundred day moving average of $141.31. The stock has a market capitalization of $49.00 billion, a price-to-earnings ratio of 69.91, a P/E/G ratio of 1.47 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same period last year, the company earned $0.90 earnings per share. On average, research analysts expect that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s payout ratio is 166.82%.

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.