Ancora Advisors LLC Makes New Investment in Ares Management Corporation $ARES

Key Points

• Ancora Advisors acquired 143,244 shares of Ares Management during the second quarter, representing an investment of approximately $15.9 million. Institutional investors and hedge funds collectively own 50.03% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $159.73, compared with the stock’s reported price of $142.91.
• Ares exceeded quarterly earnings and revenue expectations, reporting $1.29 in EPS and $1.43 billion in revenue. The company also announced a quarterly dividend of $1.35 per share, equating to an annualized yield of approximately 3.8%.

Ancora Advisors LLC acquired a new stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 143,244 shares of the asset manager's stock, valued at approximately $15,944,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARES. Osbon Capital Management LLC acquired a new position in shares of Ares Management during the 4th quarter worth about $32,000. Elyxium Wealth LLC purchased a new position in Ares Management during the fourth quarter worth approximately $42,000. Summit Securities Group LLC purchased a new position in shares of Ares Management during the 4th quarter worth $49,000. AlphaCentric Advisors LLC acquired a new position in Ares Management in the 4th quarter valued at about $62,000. Finally, Quarry LP lifted its holdings in Ares Management by 186.7% in the fourth quarter. Quarry LP now owns 430 shares of the asset manager's stock valued at $70,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley set a $160.00 target price on shares of Ares Management in a research note on Tuesday, July 21st. Zacks Research upgraded Ares Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Oppenheimer increased their price objective on shares of Ares Management from $140.00 to $151.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Citizens Jmp cut their target price on Ares Management from $190.00 to $160.00 and set a "market outperform" rating on the stock in a research report on Thursday, July 9th. Finally, Barclays decreased their price objective on shares of Ares Management from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $159.73.

Ares Management Trading Up 2.1%

NYSE ARES opened at $142.91 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $128.01 and a 200 day moving average price of $121.81. The stock has a market capitalization of $47.20 billion, a P/E ratio of 65.55, a P/E/G ratio of 1.21 and a beta of 1.49. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $186.85.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts expect that Ares Management Corporation will post 5.94 EPS for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, September 16th. Ares Management's payout ratio is presently 247.71%.

Ares Management Company Profile

Ares Management Corporation NYSE: ARES is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.

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