GAMMA Investing LLC Purchases 40,091 Shares of Ares Management Co. (NYSE:ARES)

GAMMA Investing LLC raised its position in Ares Management Co. (NYSE:ARES - Free Report) by 17,661.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,318 shares of the asset manager's stock after purchasing an additional 40,091 shares during the quarter. GAMMA Investing LLC's holdings in Ares Management were worth $59,110,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank increased its position in Ares Management by 9.8% during the fourth quarter. Huntington National Bank now owns 704 shares of the asset manager's stock worth $125,000 after buying an additional 63 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Ares Management by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 2,352 shares of the asset manager's stock worth $416,000 after acquiring an additional 65 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of Ares Management by 1.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,775 shares of the asset manager's stock worth $845,000 after acquiring an additional 65 shares during the last quarter. Keybank National Association OH raised its stake in Ares Management by 1.6% in the 4th quarter. Keybank National Association OH now owns 4,303 shares of the asset manager's stock valued at $762,000 after acquiring an additional 69 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Ares Management by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,168 shares of the asset manager's stock valued at $384,000 after acquiring an additional 70 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Ares Management Trading Up 0.6%

Shares of Ares Management stock traded up $0.97 during midday trading on Thursday, reaching $169.98. 1,160,952 shares of the company's stock traded hands, compared to its average volume of 1,423,626. The company has a market cap of $55.51 billion, a PE ratio of 83.73, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. The stock has a 50 day moving average of $152.85 and a 200-day moving average of $167.32. Ares Management Co. has a 12 month low of $110.63 and a 12 month high of $200.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. The firm had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, equities analysts expect that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.12 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.64%. Ares Management's payout ratio is currently 263.53%.

Insider Buying and Selling

In other Ares Management news, CEO Michael J. Arougheti sold 110,845 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $153.17, for a total value of $16,978,128.65. Following the transaction, the chief executive officer now directly owns 1,400,000 shares of the company's stock, valued at approximately $214,438,000. This trade represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David B. Kaplan sold 62,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $169.36, for a total value of $10,585,000.00. Following the transaction, the insider now owns 62,500 shares of the company's stock, valued at approximately $10,585,000. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 898,990 shares of company stock worth $148,835,332 in the last three months. Insiders own 36.86% of the company's stock.

Analyst Ratings Changes

ARES has been the subject of several research reports. Barclays raised their price objective on shares of Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their price target on Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Bank of America reduced their target price on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

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.