The price of Ares Management Corporation (NYSE:ARES) shares last traded on Wall Street rose 3.07% to $102.27.
Based on available information, 15 analysts follow 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 $126.00 and a low of $95.00, we find $104.00. Given the previous closing price of $99.22, this indicates a potential upside of 4.82 percent. ARES stock price is now 9.13% away from the 50-day moving average and 25.20% away from the 200-day moving average. The market capitalization of the company currently stands at $30.50B.
Among analysts, 6 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $105.15 as their price target over the next twelve months.
With the price target reduced from $99 to $98, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for Ares Management Corporation (NYSE: ARES).
In other news, ARES MANAGEMENT LLC, 10% Owner sold 6,885,415 shares of the company’s stock on Jul 03. The stock was sold for $115,571,691 at an average price of $16.79. Upon completion of the transaction, the 10% Owner now directly owns 134,659,188 shares in the company, valued at $13.77 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 29, Co-Founder, CEO and President Arougheti Michael J sold 36,085 shares of the business’s stock. A total of $3,431,323 was realized by selling the stock at an average price of $95.09. Insiders disposed of 3,194,070 shares of company stock worth roughly $326.66 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 BOSTON PARTNERS during the first quarter worth $328,476,000. PORTSIDE WEALTH GROUP, LLC invested $36,158,000 in shares of ARES during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in Ares Management Corporation valued at approximately $35,107,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in ARES for approximately $28,963,000. JEFFERIES GROUP LLC purchased a new stake in ARES valued at around $15,379,000 in the second quarter. In total, there are 609 active investors with 75.80% ownership of the company’s stock.
A candlestick chart of Ares Management Corporation (NYSE: ARES) showed a price of $99.41 on Tuesday morning. During the past 12 months, Ares Management Corporation has had a low of $58.34 and a high of $103.02. According to the stock market information, the enterprise value for the company is $31.07B, which is based on a 90.99 price-to-earnings ratio, a 3.82 price-to-earnings-growth ratio, and a beta of 1.33. The fifty day moving average price for ARES is $94.09 and a two-hundred day moving average price translates $81.96 for the stock.
The latest earnings results from Ares Management Corporation (NYSE: ARES) was released for Mar, 2023. According to the Asset Management Company, earnings per share came in at $0.71, missing analysts’ expectations of $0.81 by -0.1. This compares to $0.24 EPS in the same period last year. The net profit margin was 6.30% and return on equity was 12.50% for ARES. The company reported revenue of $813.36 million for the quarter, compared to $715.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.76 percent. For the current quarter, analysts expect ARES to generate $722.43M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $0.77 dividend. On an annualized basis, this represents a $3.08 dividend and a 3.01% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, ARES is presently at 231.30%.
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.
