Ares Management Co. (NYSE:ARES – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,770,000 shares, a growth of 16.0% from the September 30th total of 3,250,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is presently 3.3 days.
Insider Activity at Ares Management
In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares in the company, valued at $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares in the company, valued at $64,276,239.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 622,640 shares of company stock worth $91,378,848. Company insiders own 1.20% of the company’s stock.
Institutional Investors Weigh In On Ares Management
Institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in shares of Ares Management by 1.3% in the 3rd quarter. Amalgamated Bank now owns 12,205 shares of the asset manager’s stock valued at $1,902,000 after purchasing an additional 155 shares during the last quarter. ASB Consultores LLC purchased a new position in shares of Ares Management in the third quarter worth $203,000. Gulf International Bank UK Ltd lifted its stake in shares of Ares Management by 8.0% during the third quarter. Gulf International Bank UK Ltd now owns 14,494 shares of the asset manager’s stock worth $2,258,000 after buying an additional 1,074 shares during the period. Catalyst Capital Advisors LLC grew its holdings in shares of Ares Management by 5.6% during the third quarter. Catalyst Capital Advisors LLC now owns 2,623 shares of the asset manager’s stock valued at $409,000 after buying an additional 138 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Ares Management by 4.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 68,791 shares of the asset manager’s stock valued at $10,720,000 after acquiring an additional 2,725 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.
Ares Management Stock Performance
Ares Management (NYSE:ARES – Get Free Report) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts forecast that Ares Management will post 4.16 EPS for the current fiscal year.
Ares Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.
Analyst Upgrades and Downgrades
ARES has been the topic of several recent analyst reports. Royal Bank of Canada raised their price target on shares of Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Barclays lifted their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. UBS Group increased their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Redburn Atlantic assumed coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.18.
Read Our Latest Stock Analysis on ARES
About Ares Management
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.
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