Cloud Capital Management LLC Takes Position in Ares Management Corporation (NYSE:ARES)

Cloud Capital Management LLC acquired a new stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,540 shares of the asset manager's stock, valued at approximately $372,000.

A number of other large investors also recently modified their holdings of ARES. Charles Schwab Investment Management Inc. raised its position in shares of Ares Management by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock valued at $126,622,000 after buying an additional 32,273 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager's stock worth $1,167,000 after acquiring an additional 2,302 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Ares Management by 5.4% during the first quarter. Oppenheimer & Co. Inc. now owns 39,270 shares of the asset manager's stock valued at $5,757,000 after acquiring an additional 1,995 shares in the last quarter. Soros Capital Management LLC bought a new stake in Ares Management in the 4th quarter valued at $10,144,000. Finally, Commonwealth Equity Services LLC lifted its stake in Ares Management by 34.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,622 shares of the asset manager's stock worth $5,067,000 after purchasing an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on ARES shares. TD Cowen dropped their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. The Goldman Sachs Group cut their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Bank of America reduced their price objective on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ares Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.

Insider Transactions at Ares Management

In related news, insider David B. Kaplan sold 33,145 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $165.12, for a total transaction of $5,472,902.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 107,500 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total value of $17,344,050.00. Following the completion of the transaction, the chief executive officer directly owned 1,400,000 shares in the company, valued at $225,876,000. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 873,145 shares of company stock worth $146,204,353. 36.86% of the stock is currently owned by company insiders.

Ares Management Stock Down 0.0%

NYSE ARES opened at $177.96 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The firm has a market capitalization of $58.12 billion, a price-to-earnings ratio of 104.68, a PEG ratio of 1.40 and a beta of 1.37. The company has a fifty day moving average of $166.68 and a two-hundred day moving average of $166.40.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The firm had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same period in the previous year, the company earned $0.80 EPS. On average, analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $1.12 per share. The ex-dividend date was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.52%. Ares Management's dividend payout ratio is 263.53%.

Ares Management Company 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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