Ares Management Llc Sells 3,500,000 Shares of Ares Management Corp (NYSE:ARES) Stock

Ares Management Corp (NYSE:ARES) Director Ares Management Llc sold 3,500,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $0.11, for a total transaction of $385,000.00. Following the sale, the director now owns 86,857 shares of the company’s stock, valued at approximately $9,554.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NYSE ARES traded up $0.74 during trading hours on Monday, hitting $29.07. 414,760 shares of the stock were exchanged, compared to its average volume of 786,421. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. Ares Management Corp has a 12-month low of $16.18 and a 12-month high of $29.53. The stock has a 50-day moving average of $28.13 and a 200 day moving average of $25.35. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $300.41 million. Ares Management had a return on equity of 22.54% and a net margin of 7.77%. The company’s revenue for the quarter was up 88.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. On average, equities research analysts expect that Ares Management Corp will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 13th. This represents a $1.28 annualized dividend and a yield of 4.40%. Ares Management’s dividend payout ratio is currently 90.14%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA purchased a new position in Ares Management during the second quarter worth about $51,000. AGF Investments LLC purchased a new position in Ares Management during the second quarter worth about $53,000. Quantamental Technologies LLC purchased a new position in Ares Management during the second quarter worth about $71,000. NumerixS Investment Technologies Inc purchased a new position in Ares Management during the second quarter worth about $131,000. Finally, Bank of Montreal Can purchased a new position in Ares Management during the second quarter worth about $140,000. 54.13% of the stock is owned by hedge funds and other institutional investors.

ARES has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Ares Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. UBS Group increased their target price on shares of Ares Management from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Barclays started coverage on shares of Ares Management in a report on Monday, August 5th. They set an “overweight” rating and a $33.00 price target for the company. Finally, Zacks Investment Research cut shares of Ares Management from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.29.

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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