Ares Management Corporation (NYSE:ARES) shares traded -4.79% lower at $68.99 on Wall Street last session.
In accordance with the data, 14 analysts cover Ares Management Corporation (NYSE:ARES). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $103.00 and a low of $78.00, we find $88.50. Given the previous closing price of $72.46, this indicates a potential upside of 22.14 percent. ARES stock price is now -5.94% away from the 50-day moving average and -3.10% away from the 200-day moving average. The market capitalization of the company currently stands at $20.35B.
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It has been rated a hold by 4 analysts and a buy by 9. Brokers who have rated the stock have averaged $88.92 as their price target over the next twelve months.
With the price target maintained at $93, BMO Capital Markets recently Downgraded its rating from Outperform to Market Perform for Ares Management Corporation (NYSE: ARES). On August 31, 2022, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $92, while ‘JMP Securities’ rates the stock as ‘Mkt Perform’.
In other news, Rosenthal Bennett, Co-Founder & Co-Chair of PEG sold 100,000 shares of the company’s stock on Dec 12. The stock was sold for $7,014,000 at an average price of $70.14. Upon completion of the transaction, the Co-Founder & Co-Chair of PEG now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14, Co-Founder & Co-Chair of PEG Rosenthal Bennett sold 200,000 shares of the business’s stock. A total of $16,048,275 was realized by selling the stock at an average price of $80.24. This leaves the insider owning 100,000 shares of the company worth $6.9 million. Insiders disposed of 2,389,191 shares of company stock worth roughly $164.83 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARES stock. A new stake in Ares Management Corporation shares was purchased by VULCAN VALUE PARTNERS, LLC during the first quarter worth $167,703,000. HRT FINANCIAL LP invested $14,351,000 in shares of ARES during the first quarter. In the first quarter, ERGOTELES LLC acquired a new stake in Ares Management Corporation valued at approximately $12,355,000. JEFFERIES GROUP LLC acquired a new stake in ARES for approximately $10,375,000. POINT72 EUROPE (LONDON) LLP purchased a new stake in ARES valued at around $5,843,000 in the second quarter. In total, there are 478 active investors with 75.80% ownership of the company’s stock.
Ares Management Corporation (NYSE: ARES) opened at $70.32 on Thursday. During the past 12 months, Ares Management Corporation has had a low of $53.15 and a high of $86.06. The fifty day moving average price for ARES is $73.35 and a two-hundred day moving average price translates $71.20 for the stock.
The latest earnings results from Ares Management Corporation (NYSE: ARES) was released for Jun, 2022. According to the Asset Management Company, earnings per share came in at $0.75, beating analysts’ expectations of $0.74 by 0.01. This compares to $0.45 EPS in the same period last year. The net profit margin was 4.60% and return on equity was 9.40% for ARES. The company reported revenue of $801.29 million for the quarter, compared to $948.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.54 percent. For the current quarter, analysts expect ARES to generate $995.58M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/16/2022 were paid a $0.61 dividend. On an annualized basis, this represents a $2.44 dividend and a 3.54% percent yield. There was an ex-dividend date of 12/15/2022 for this dividend. In terms of dividend payout ratio, ARES is presently at 237.70%.
Ares Management Corporation(ARES) 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. 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, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm was previously known as Ares Management, L.P. Ares Management Corporation was founded in 1997 and is headquartered in Los Angeles, California with additional offices in the United States, Europe and Asia. Ares Management GP LLC is the general partner of the company.
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