Ares Management’s Quiet Period Set To Expire Tomorrow (NYSE:ARES)
Ares Management’s (NYSE:ARES) quiet period will expire on Wednesday, June 11th. Ares Management had issued 11,363,636 shares in its public offering on May 2nd, AnalystRatings.Net reports. The total size of the offering was $215,909,084 based on an initial share price of $19.00. During Ares Management’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Shares of Ares Management (NYSE:ARES) traded down 0.96% during mid-day trading on Tuesday, hitting $18.5205. The stock had a trading volume of 9,535 shares. Ares Management has a 1-year low of $16.68 and a 1-year high of $19.10. The stock’s 50-day moving average is $18.15 and its 200-day moving average is $18.15. The company has a market cap of $3.965 billion and a price-to-earnings ratio of 7.82.
Ares Management, L.P. is a global alternative asset manager. The company operates in four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group.
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