Ares Management's (ARES) Outperform Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has reiterated its "outperform" rating for Ares Management (ARES), setting a price objective of $215.00, indicating a potential upside of 31.65% from the current stock price.
• Multiple analysts have recently boosted their price targets for Ares Management, with JMP Securities and Barclays setting targets of $205.00 and $200.00 respectively, reflecting strong market interest.
• Ares Management reported a $1.03 EPS for the last quarter, missing expectations, despite revenues surpassing forecasts with $1.35 billion in earnings.

Ares Management (NYSE:ARES - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They currently have a $215.00 price objective on the asset manager's stock. Royal Bank Of Canada's target price suggests a potential upside of 31.65% from the stock's current price.

ARES has been the subject of several other reports. JMP Securities raised their price target on shares of Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Barclays lifted their price target on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their price target on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $182.73.

Ares Management Stock Up 0.2%

Ares Management stock opened at $163.31 on Monday. The stock has a market cap of $53.36 billion, a price-to-earnings ratio of 94.19, a PEG ratio of 1.28 and a beta of 1.44. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The company's 50-day moving average price is $181.71 and its two-hundred day moving average price is $167.15. Ares Management has a 52 week low of $110.63 and a 52 week high of $200.49.

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

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 136,516 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the transaction, the chief executive officer directly owned 311,728 shares in the company, valued at approximately $56,965,174.72. This represents a 30.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,590,000 shares of company stock worth $464,430,639. Corporate insiders own 0.52% of the company's stock.

Institutional Trading of Ares Management

Hedge funds have recently modified their holdings of the company. Nemes Rush Group LLC boosted its position in Ares Management by 3.1% in the second quarter. Nemes Rush Group LLC now owns 1,745 shares of the asset manager's stock worth $302,000 after purchasing an additional 52 shares during the last quarter. New York Life Investment Management LLC boosted its position in Ares Management by 2.0% in the second quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager's stock worth $534,000 after purchasing an additional 59 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Ares Management by 10.3% in the second quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager's stock worth $109,000 after purchasing an additional 59 shares during the last quarter. MGO One Seven LLC boosted its position in Ares Management by 1.3% in the second quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager's stock worth $793,000 after purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Ares Management by 9.1% in the first quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager's stock worth $108,000 after purchasing an additional 62 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

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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