Overbrook Management Corp Sells 20,507 Shares of Ares Management Corporation $ARES

Key Points

• Overbrook Management Corp cut its Ares Management stake by 77.8% in the third quarter, selling 20,507 shares and retaining 5,862 shares worth approximately $681,000.
• Other institutional investors increased their positions, and institutions and hedge funds collectively own 50.03% of Ares Management.
• Ares reported quarterly revenue of $1.43 billion and EPS of $1.29, slightly exceeding analyst estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $156, while the company’s quarterly dividend implies a 4.6% yield.

Overbrook Management Corp decreased its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 77.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,862 shares of the asset manager's stock after selling 20,507 shares during the quarter. Overbrook Management Corp's holdings in Ares Management were worth $681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC boosted its position in shares of Ares Management by 178.0% during the 3rd quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager's stock worth $29,000 after acquiring an additional 162 shares in the last quarter. Hamlin Capital Management LLC lifted its stake in Ares Management by 6.6% during the third quarter. Hamlin Capital Management LLC now owns 1,022,899 shares of the asset manager's stock worth $118,830,000 after purchasing an additional 63,265 shares during the last quarter. CX Institutional boosted its holdings in shares of Ares Management by 20.8% in the 3rd quarter. CX Institutional now owns 2,077 shares of the asset manager's stock valued at $241,000 after purchasing an additional 357 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ares Management by 99.1% in the 3rd quarter. Versant Capital Management Inc now owns 444 shares of the asset manager's stock valued at $52,000 after purchasing an additional 221 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Ares Management by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 3,805 shares of the asset manager's stock valued at $424,000 after purchasing an additional 460 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Trading Up 0.5%

NYSE:ARES traded up $0.53 during trading hours on Thursday, hitting $116.28. 2,742,569 shares of the company were exchanged, compared to its average volume of 2,947,961. The stock has a market capitalization of $38.40 billion, a price-to-earnings ratio of 53.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53. Ares Management Corporation has a one year low of $95.80 and a one year high of $181.19. The company has a fifty day simple moving average of $132.79 and a 200 day simple moving average of $124.15. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 EPS 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 analyst estimates of $1.27 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business's revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Ares Management Corporation will post 5.9 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, September 16th. Ares Management's dividend payout ratio is currently 247.71%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $144.00 price objective on shares of Ares Management in a research report on Monday, August 3rd. Morgan Stanley set a $160.00 target price on Ares Management in a research note on Tuesday, July 21st. Citigroup restated a "market outperform" rating on shares of Ares Management in a research note on Monday, August 3rd. Piper Sandler assumed coverage on shares of Ares Management in a report on Thursday, September 24th. They set an "overweight" rating and a $150.00 price target on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of Ares Management from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.00.

Ares Management Profile

Ares Management Corporation NYSE: ARES is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.

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