Ares Management (NYSE:ARES) Given New $182.00 Price Target at Barclays

Ares Management (NYSE:ARES) had its price objective raised by equities research analysts at Barclays from $142.00 to $182.00 in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target points to a potential upside of 12.22% from the company’s current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley dropped their target price on Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Oppenheimer raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $159.00 price objective on the stock in a research report on Wednesday, April 16th. Citizens Jmp raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. TD Cowen cut their price target on shares of Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.53.

Ares Management Trading Up 1.6 %

NYSE ARES opened at $162.18 on Tuesday. The stock’s 50 day moving average is $146.41 and its 200 day moving average is $167.57. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $51.15 billion, a PE ratio of 79.89, a P/E/G ratio of 1.28 and a beta of 1.40. Ares Management has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES) last released its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The firm had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. During the same period in the prior year, the firm earned $0.80 EPS. Research analysts forecast that Ares Management will post 5.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Bennett Rosenthal sold 69,809 shares of Ares Management stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total value of $11,239,947.09. Following the sale, the chairman now directly owns 30,191 shares of the company’s stock, valued at approximately $4,861,052.91. The trade was a 69.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $153.17, for a total value of $16,978,128.65. Following the completion of the sale, the chief executive officer now owns 1,400,000 shares in the company, valued at $214,438,000. This represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,180 shares of company stock worth $39,411,066 over the last three months. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Ares Management

Several hedge funds have recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in Ares Management during the first quarter valued at $28,000. Versant Capital Management Inc grew its position in Ares Management by 67.0% in the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after acquiring an additional 65 shares in the last quarter. Transce3nd LLC bought a new stake in Ares Management during the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. raised its position in Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Finally, Elequin Capital LP bought a new stake in shares of Ares Management in the 4th quarter valued at approximately $33,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Company Profile

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.