Ares Management L.P. (ARES) Cut to “Sell” at BidaskClub
Ares Management L.P. (NYSE:ARES) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
Several other research analysts have also weighed in on ARES. TheStreet raised Ares Management L.P. from a “c” rating to a “b-” rating in a research report on Thursday, August 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $22.00 price target on shares of Ares Management L.P. in a research report on Tuesday. ValuEngine lowered Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Royal Bank Of Canada set a $21.00 price target on Ares Management L.P. and gave the stock a “buy” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research lowered Ares Management L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.29.
Shares of Ares Management L.P. (ARES) remained flat at $17.80 during midday trading on Friday. The company had a trading volume of 67,192 shares. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 23.83 and a beta of 1.25. The stock has a 50 day moving average of $18.13 and a 200-day moving average of $18.65. Ares Management L.P. has a 1-year low of $14.75 and a 1-year high of $23.25.
Ares Management L.P. (NYSE:ARES) last posted its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. The firm had revenue of $554 million for the quarter, compared to analyst estimates of $442.10 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The business’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities research analysts anticipate that Ares Management L.P. will post $1.84 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC acquired a new position in shares of Ares Management L.P. during the 1st quarter worth approximately $1,163,000. James Investment Research Inc. acquired a new position in shares of Ares Management L.P. during the 2nd quarter worth approximately $1,200,000. Morgan Stanley increased its holdings in shares of Ares Management L.P. by 96.0% during the 1st quarter. Morgan Stanley now owns 481,359 shares of the asset manager’s stock worth $9,122,000 after acquiring an additional 235,816 shares during the last quarter. EJF Capital LLC acquired a new position in shares of Ares Management L.P. during the 1st quarter worth approximately $14,551,000. Finally, Greenwich Investment Management Inc. acquired a new position in shares of Ares Management L.P. during the 1st quarter worth approximately $1,245,000. 14.69% of the stock is currently owned by institutional investors and hedge funds.
Ares Management L.P. Company Profile
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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