Ares Management Corp (NYSE:ARES) Sees Large Decline in Short Interest

Ares Management Corp (NYSE:ARES) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 3,347,100 shares, a decline of 17.3% from the May 15th total of 4,047,000 shares. Based on an average daily volume of 781,000 shares, the short-interest ratio is currently 4.3 days. Currently, 4.6% of the shares of the company are short sold.

In other news, insider R. Kipp Deveer sold 5,166 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $26.12, for a total value of $134,935.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 127,400 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.30, for a total transaction of $3,605,420.00. The disclosure for this sale can be found here. Insiders sold 1,370,709 shares of company stock worth $37,208,269 over the last quarter. 151.62% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ffcm LLC boosted its position in Ares Management by 50.0% in the fourth quarter. Ffcm LLC now owns 1,476 shares of the asset manager’s stock valued at $26,000 after buying an additional 492 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Ares Management by 8.1% during the fourth quarter. Lido Advisors LLC now owns 17,772 shares of the asset manager’s stock worth $315,000 after purchasing an additional 1,326 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Ares Management by 13.6% during the fourth quarter. Two Sigma Advisers LP now owns 11,700 shares of the asset manager’s stock worth $208,000 after purchasing an additional 1,400 shares during the period. Raymond James & Associates lifted its holdings in shares of Ares Management by 4.0% during the fourth quarter. Raymond James & Associates now owns 56,579 shares of the asset manager’s stock worth $1,006,000 after purchasing an additional 2,201 shares during the period. Finally, Cordasco Financial Network acquired a new position in shares of Ares Management during the first quarter worth $70,000. Institutional investors and hedge funds own 60.08% of the company’s stock.

Shares of ARES stock traded down $0.30 on Friday, reaching $28.13. The stock had a trading volume of 429,638 shares, compared to its average volume of 1,316,665. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average price is $26.94. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38. Ares Management has a 12 month low of $16.18 and a 12 month high of $28.63.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, May 2nd. The asset manager reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Ares Management had a return on equity of 25.86% and a net margin of 5.22%. The business had revenue of $224.66 million for the quarter, compared to the consensus estimate of $228.42 million. During the same period in the prior year, the business posted $0.39 earnings per share. Research analysts forecast that Ares Management will post 1.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 4.55%. Ares Management’s dividend payout ratio is 90.14%.

Separately, Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.00.

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.

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