Brinker Capital Inc. Boosts Position in Ares Management Corp (NYSE:ARES)

Brinker Capital Inc. increased its stake in Ares Management Corp (NYSE:ARES) by 8.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 93,887 shares of the asset manager’s stock after acquiring an additional 6,931 shares during the quarter. Brinker Capital Inc.’s holdings in Ares Management were worth $2,517,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stephens Inc. AR grew its holdings in Ares Management by 1.5% during the 3rd quarter. Stephens Inc. AR now owns 25,500 shares of the asset manager’s stock worth $684,000 after acquiring an additional 375 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Ares Management by 4.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 18,696 shares of the asset manager’s stock worth $489,000 after acquiring an additional 865 shares in the last quarter. Advisor Group Inc. grew its holdings in Ares Management by 27.0% during the 2nd quarter. Advisor Group Inc. now owns 6,951 shares of the asset manager’s stock worth $182,000 after acquiring an additional 1,477 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in Ares Management during the 2nd quarter worth about $51,000. Finally, AGF Investments LLC bought a new position in Ares Management during the 2nd quarter worth about $53,000. 59.87% of the stock is currently owned by institutional investors.

In other news, Director Ares Management Llc sold 350,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $0.10, for a total value of $35,000.00. Following the sale, the director now directly owns 86,857 shares in the company, valued at approximately $8,685.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,930,862 shares of company stock worth $528,086 over the last 90 days. Company insiders own 151.62% of the company’s stock.

Several brokerages have issued reports on ARES. Barclays set a $31.00 target price on shares of Ares Management and gave the stock a “buy” rating in a report on Friday, October 11th. Zacks Investment Research cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. 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 report on Friday, August 2nd. ValuEngine cut shares of Ares Management from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets began coverage on shares of Ares Management in a report on Monday, October 7th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $30.25.

NYSE:ARES opened at $27.96 on Wednesday. Ares Management Corp has a fifty-two week low of $16.18 and a fifty-two week high of $31.02. The stock has a market capitalization of $3.29 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day simple moving average is $28.24 and its 200-day simple moving average is $27.03.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Ares Management had a net margin of 7.77% and a return on equity of 22.54%. The firm had revenue of $384.80 million during the quarter, compared to the consensus estimate of $300.41 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 88.4% on a year-over-year basis. On average, research analysts forecast that Ares Management Corp will post 1.48 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, September 13th. Ares Management’s dividend payout ratio is currently 90.14%.

Ares Management 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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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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