Rivernorth Capital Management LLC Takes Position in Ares Management Corporation $ARES

Key Points

• Rivernorth Capital Management initiated a 38,547-share position in Ares Management during the first quarter, valued at approximately $4.2 million. Institutional investors collectively own 50.03% of the company.
• Ares reported quarterly EPS of $1.24, below the $1.32 analyst consensus, while revenue of $1.40 billion exceeded estimates of $1.28 billion. Analysts expect full-year EPS of approximately $5.98.
• The company pays a quarterly dividend of $1.35 per share, equivalent to a $5.40 annualized payout and a 4.2% yield. Wall Street maintains a “Moderate Buy” consensus with an average price target of $158.93, versus a recent share price of $127.88.

Rivernorth Capital Management LLC bought a new stake in Ares Management Corporation (NYSE:ARES - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,547 shares of the asset manager's stock, valued at approximately $4,205,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Osbon Capital Management LLC acquired a new position in Ares Management during the fourth quarter valued at approximately $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Ares Management during the 4th quarter worth approximately $42,000. Elyxium Wealth LLC bought a new stake in shares of Ares Management during the 4th quarter worth approximately $42,000. Summit Securities Group LLC bought a new stake in shares of Ares Management during the 4th quarter worth approximately $49,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Ares Management in the 4th quarter valued at approximately $62,000. Institutional investors own 50.03% of the company's stock.

Ares Management Price Performance

Shares of NYSE ARES opened at $127.88 on Wednesday. The business has a fifty day moving average price of $123.70 and a two-hundred day moving average price of $124.66. The stock has a market capitalization of $42.18 billion, a PE ratio of 59.48, a P/E/G ratio of 1.14 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26.

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

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.2%. Ares Management's payout ratio is 251.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Ares Management to a "hold" rating in a research note on Monday, July 20th. Oppenheimer lowered their price objective on shares of Ares Management from $146.00 to $140.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. The Goldman Sachs Group cut their target price 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. JPMorgan Chase & Co. dropped their price objective on Ares Management from $188.00 to $144.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ares Management in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.93.

About Ares Management

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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