Hudson Bay Capital Management LP Acquires New Shares in Ares Management Co. (NYSE:ARES)

Hudson Bay Capital Management LP purchased a new stake in Ares Management Co. (NYSE:ARES - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 60,000 shares of the asset manager's stock, valued at approximately $10,622,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ares Management by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock worth $3,329,530,000 after buying an additional 907,757 shares during the period. Capital World Investors grew its holdings in Ares Management by 2.1% during the 4th quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock worth $1,903,741,000 after acquiring an additional 223,919 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ares Management by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock valued at $1,465,433,000 after acquiring an additional 33,700 shares during the last quarter. FMR LLC lifted its stake in shares of Ares Management by 12.8% in the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after purchasing an additional 807,361 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Ares Management by 1.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock valued at $907,534,000 after purchasing an additional 66,671 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Activity at Ares Management

In other news, insider David B. Kaplan sold 69,526 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $160.99, for a total transaction of $11,192,990.74. Following the transaction, the insider now owns 30,474 shares in the company, valued at approximately $4,906,009.26. This trade represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 69,809 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $161.01, for a total value of $11,239,947.09. Following the completion of the sale, the chairman now owns 30,191 shares of the company's stock, valued at $4,861,052.91. This trade represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,180 shares of company stock worth $39,411,066. Insiders own 36.86% of the company's stock.

Ares Management Stock Down 4.1%

Shares of Ares Management stock traded down $7.20 during trading hours on Thursday, reaching $168.63. 3,115,401 shares of the company's stock were exchanged, compared to its average volume of 1,425,957. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $147.41 and a two-hundred day moving average of $167.62. The stock has a market cap of $53.19 billion, a P/E ratio of 83.07, a P/E/G ratio of 1.28 and a beta of 1.40. Ares Management Co. has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating 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 company had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts forecast that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management's payout ratio is 263.53%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday. Barclays increased their price target on shares of Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. TD Cowen decreased 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. Citizens Jmp upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Ares Management currently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Ares Management 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.