Zacks Investment Research Downgrades Ares Management L.P. (ARES) to Sell
Ares Management L.P. (NYSE:ARES) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
Several other research analysts also recently weighed in on the company. BidaskClub downgraded Ares Management L.P. from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $22.00 target price on shares of Ares Management L.P. in a research note on Tuesday, September 5th. Royal Bank Of Canada began coverage on Ares Management L.P. in a research note on Thursday, June 29th. They issued an “outperform” rating and a $21.00 target price for the company. ValuEngine downgraded Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. began coverage on Ares Management L.P. in a research note on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $21.00.
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 consensus estimate of $0.69. The company had revenue of $554.00 million during the quarter, compared to the consensus estimate of $442.10 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The firm’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities research analysts anticipate that Ares Management L.P. will post $1.82 EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP boosted its stake in Ares Management L.P. by 3.2% in the 2nd quarter. Royce & Associates LP now owns 3,761,776 shares of the asset manager’s stock worth $67,712,000 after purchasing an additional 115,000 shares during the period. OppenheimerFunds Inc. boosted its stake in Ares Management L.P. by 41.0% in the 1st quarter. OppenheimerFunds Inc. now owns 1,305,908 shares of the asset manager’s stock worth $24,747,000 after purchasing an additional 379,418 shares during the period. EJF Capital LLC bought a new position in Ares Management L.P. in the 1st quarter worth about $14,551,000. Wells Fargo & Company MN boosted its stake in Ares Management L.P. by 2.7% in the 2nd quarter. Wells Fargo & Company MN now owns 568,780 shares of the asset manager’s stock worth $10,239,000 after purchasing an additional 14,926 shares during the period. Finally, Capital World Investors bought a new position in Ares Management L.P. in the 2nd quarter worth about $9,649,000. Institutional investors and hedge funds own 14.68% of the company’s stock.
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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