Guardian Point Capital LP Cuts Stock Holdings in Ares Management Corporation $ARES

Key Points

• Guardian Point Capital LP cut its Ares Management stake by 62.5% in the first quarter, selling 125,000 shares and leaving it with 75,000 shares worth about $8.18 million.
• Ares Management reported Q1 EPS of $1.24, which missed analyst expectations of $1.32, though revenue came in stronger than expected at $1.40 billion.
• The company paid a quarterly dividend of $1.35 per share, equal to a 4.3% yield, while Wall Street currently rates the stock a Moderate Buy with a consensus price target of $158.93.

Guardian Point Capital LP decreased its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the asset manager's stock after selling 125,000 shares during the quarter. Ares Management makes up 3.4% of Guardian Point Capital LP's investment portfolio, making the stock its 11th biggest holding. Guardian Point Capital LP's holdings in Ares Management were worth $8,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ARES. Waverly Advisors LLC acquired a new stake in Ares Management in the first quarter valued at $514,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Ares Management by 4,113.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 343,116 shares of the asset manager's stock valued at $37,434,000 after buying an additional 334,973 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Ares Management in the 1st quarter valued at $9,350,000. Klingman & Associates LLC raised its holdings in shares of Ares Management by 31.4% in the first quarter. Klingman & Associates LLC now owns 3,434 shares of the asset manager's stock valued at $375,000 after buying an additional 820 shares during the last quarter. Finally, Volterra Technologies LP purchased a new stake in Ares Management during the 1st quarter valued at approximately $323,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Shares of ARES stock opened at $126.37 on Friday. The firm has a fifty day simple moving average of $123.48 and a 200-day simple moving average of $125.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $41.68 billion, a PE ratio of 58.78, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. Equities research analysts anticipate that Ares Management Corporation will post 5.98 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 16th. Ares Management's dividend payout ratio (DPR) is currently 251.16%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ARES shares. Zacks Research upgraded shares of Ares Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Keefe, Bruyette & Woods upgraded Ares Management to a "hold" rating in a research report on Monday, July 20th. Wall Street Zen downgraded shares of Ares Management from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. TD Cowen raised their price target on Ares Management from $144.00 to $153.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Ares Management from $165.00 to $131.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Ares Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.93.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.