Ares Management (NYSE:ARES) Sets New 12-Month High – Still a Buy?

Shares of Ares Management Co. (NYSE:ARESGet Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $200.49 and last traded at $195.70, with a volume of 1964564 shares. The stock had previously closed at $196.52.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of research reports. TD Cowen boosted their price target on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. UBS Group raised their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.08.

View Our Latest Research Report on Ares Management

Ares Management Stock Down 0.4 %

The company has a market capitalization of $61.27 billion, a PE ratio of 90.19, a P/E/G ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day simple moving average of $182.44 and a 200-day simple moving average of $164.65.

Insider Buying and Selling

In other news, insider Ryan Berry sold 1,671 shares of Ares Management stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $175.00, for a total value of $292,425.00. Following the completion of the transaction, the insider now owns 253,214 shares in the company, valued at approximately $44,312,450. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 20,048 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,356,837.12. Following the sale, the chairman now directly owns 229,952 shares in the company, valued at approximately $38,503,162.88. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 555,838 shares of company stock worth $96,785,773. Insiders own 41.89% of the company’s stock.

Institutional Trading of Ares Management

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after buying an additional 679,462 shares during the period. FMR LLC boosted its stake in Ares Management by 1.0% in the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after acquiring an additional 63,851 shares during the period. State Street Corp grew its holdings in shares of Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock valued at $596,318,000 after purchasing an additional 187,184 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Ares Management by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock worth $600,830,000 after purchasing an additional 18,773 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ares Management by 12.4% in the 4th quarter. Principal Financial Group Inc. now owns 3,201,863 shares of the asset manager’s stock worth $566,826,000 after purchasing an additional 352,126 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

(Get Free Report)

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.

Further Reading

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