Michael Arougheti Sells 56,204 Shares of Ares Management (NYSE:ARES) Stock

Key Points

• CEO Michael Arougheti sold 56,204 shares of Ares Management at an average price of $188.69, reducing his ownership by 9.53% and retaining approximately 533,796 shares valued at about $100.72 million.
• Ares Management reported earnings of $1.03 per share, missing analyst estimates of $1.15, while achieving revenues of $1.35 billion for the quarter.
• The company declared a quarterly dividend of $1.12 per share, effective September 30, indicating a 2.5% dividend yield with a payout ratio of 258.96%.

Ares Management Corporation (NYSE:ARES - Get Free Report) CEO Michael Arougheti sold 56,204 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $188.69, for a total value of $10,605,132.76. Following the completion of the transaction, the chief executive officer directly owned 533,796 shares of the company's stock, valued at approximately $100,721,967.24. The trade was a 9.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Ares Management Price Performance

Shares of ARES traded down $8.85 during mid-day trading on Tuesday, reaching $180.42. The company had a trading volume of 2,409,214 shares, compared to its average volume of 1,260,290. The company's 50-day moving average is $179.08 and its 200-day moving average is $166.24. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a market capitalization of $58.95 billion, a P/E ratio of 104.29, a P/E/G ratio of 1.48 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is currently 258.96%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ARES. Barclays lifted their target price on Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their target price on Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Cfra Research upgraded Ares Management to a "moderate buy" rating in a report on Monday, August 4th. Royal Bank Of Canada lifted their target price on Ares Management from $195.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $180.06.

Institutional Trading of Ares Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Ares Management in the second quarter valued at about $291,000. Hudson Bay Capital Management LP acquired a new stake in shares of Ares Management in the second quarter valued at about $525,000. Evergreen Capital Management LLC acquired a new stake in shares of Ares Management in the second quarter valued at about $359,000. Captrust Financial Advisors increased its position in shares of Ares Management by 20.5% in the second quarter. Captrust Financial Advisors now owns 7,201 shares of the asset manager's stock valued at $1,247,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Ares Management by 3,250.7% in the second quarter. Vident Advisory LLC now owns 70,030 shares of the asset manager's stock valued at $12,129,000 after acquiring an additional 67,940 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

About Ares Management

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.

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