Antony Ressler Sells 101,400 Shares of Ares Management (NYSE:ARES) Stock

Key Points

• Antony Ressler, Chairman of Ares Management, sold 101,400 shares at an average price of $175.53, resulting in a 44.04% decrease in his holdings.
• Ares Management reported earnings per share (EPS) of $1.03 for the last quarter, missing analysts' estimates of $1.15, while also declaring a quarterly dividend of $1.12 per share.
• Analysts are generally optimistic about Ares Management, with a consensus rating of "Moderate Buy" and several firms adjusting their price targets upwards, including Royal Bank of Canada raising it to $215.00.

Ares Management Corporation (NYSE:ARES - Get Free Report) Chairman Antony Ressler sold 101,400 shares of Ares Management stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $175.53, for a total value of $17,798,742.00. Following the completion of the sale, the chairman directly owned 128,837 shares in the company, valued at approximately $22,614,758.61. This represents a 44.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ares Management Stock Down 0.6%

Ares Management stock traded down $1.14 during midday trading on Tuesday, reaching $175.11. The stock had a trading volume of 979,918 shares, compared to its average volume of 1,328,418. The firm's fifty day simple moving average is $181.96 and its 200-day simple moving average is $165.34. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49. The stock has a market capitalization of $57.21 billion, a P/E ratio of 101.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted $0.99 EPS. As a group, analysts expect that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.6%. Ares Management's payout ratio is 258.96%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Redmont Wealth Advisors LLC acquired a new position in shares of Ares Management during the 1st quarter worth approximately $28,000. Financial Network Wealth Advisors LLC acquired a new position in Ares Management in the 1st quarter valued at $31,000. Elequin Capital LP acquired a new position in Ares Management in the 4th quarter valued at $33,000. Elevation Point Wealth Partners LLC acquired a new position in Ares Management in the 2nd quarter valued at $35,000. Finally, Global Financial Private Client LLC grew its holdings in Ares Management by 125.6% in the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock valued at $39,000 after buying an additional 147 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARES has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on Ares Management from $195.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. Wells Fargo & Company boosted their price target on Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Raymond James Financial initiated coverage on Ares Management in a research report on Monday, July 28th. They set a "market perform" rating on the stock. JMP Securities boosted their price target on Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Finally, Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.73.

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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