Zacks Investment Research Lowers Ares Management (ARES) to Hold
Ares Management (NYSE:ARES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “
ARES has been the subject of several other research reports. BidaskClub downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Ares Management in a report on Wednesday, January 10th. They noted that the move was a valuation call. Oppenheimer started coverage on shares of Ares Management in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Ares Management in a report on Friday, November 3rd. Finally, TheStreet downgraded shares of Ares Management from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.00.
Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Ares Management had a net margin of 4.98% and a return on equity of 39.54%. The company had revenue of $283.67 million during the quarter, compared to the consensus estimate of $286.76 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. equities analysts forecast that Ares Management will post 1.82 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its position in Ares Management by 2.1% in the third quarter. American Century Companies Inc. now owns 1,208,538 shares of the asset manager’s stock worth $22,539,000 after acquiring an additional 24,976 shares in the last quarter. PM CAPITAL Ltd bought a new stake in Ares Management in the third quarter worth about $7,785,000. Capital World Investors bought a new stake in Ares Management in the second quarter worth about $9,649,000. EJF Capital LLC raised its position in Ares Management by 17.2% in the third quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock worth $20,269,000 after acquiring an additional 159,544 shares in the last quarter. Finally, Royce & Associates LP raised its position in Ares Management by 0.4% in the third quarter. Royce & Associates LP now owns 3,778,587 shares of the asset manager’s stock worth $70,471,000 after acquiring an additional 16,811 shares in the last quarter. 15.59% of the stock is owned by institutional investors and hedge funds.
Ares Management 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.