Ares Management Corp (NYSE:ARES) Insider Sells $1,352,273.89 in Stock

Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 33,497 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $40.37, for a total value of $1,352,273.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

R. Kipp Deveer also recently made the following trade(s):

  • On Friday, July 31st, R. Kipp Deveer sold 637 shares of Ares Management stock. The shares were sold at an average price of $40.02, for a total value of $25,492.74.
  • On Monday, July 27th, R. Kipp Deveer sold 6,515 shares of Ares Management stock. The shares were sold at an average price of $39.40, for a total value of $256,691.00.
  • On Friday, July 24th, R. Kipp Deveer sold 102,384 shares of Ares Management stock. The shares were sold at an average price of $39.06, for a total value of $3,999,119.04.
  • On Wednesday, July 22nd, R. Kipp Deveer sold 1,848 shares of Ares Management stock. The shares were sold at an average price of $41.03, for a total value of $75,823.44.
  • On Monday, July 20th, R. Kipp Deveer sold 53,375 shares of Ares Management stock. The shares were sold at an average price of $41.11, for a total value of $2,194,246.25.
  • On Wednesday, July 15th, R. Kipp Deveer sold 34,464 shares of Ares Management stock. The shares were sold at an average price of $40.29, for a total value of $1,388,554.56.
  • On Monday, July 13th, R. Kipp Deveer sold 1,390 shares of Ares Management stock. The shares were sold at an average price of $40.01, for a total value of $55,613.90.
  • On Thursday, July 2nd, R. Kipp Deveer sold 100 shares of Ares Management stock. The shares were sold at an average price of $40.02, for a total value of $4,002.00.
  • On Monday, June 22nd, R. Kipp Deveer sold 81,393 shares of Ares Management stock. The shares were sold at an average price of $40.05, for a total value of $3,259,789.65.
  • On Monday, May 4th, R. Kipp Deveer sold 8,274 shares of Ares Management stock. The shares were sold at an average price of $31.81, for a total value of $263,195.94.

ARES opened at $39.94 on Friday. Ares Management Corp has a 12 month low of $20.20 and a 12 month high of $41.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market cap of $9.89 billion, a P/E ratio of 22.01, a P/E/G ratio of 3.46 and a beta of 1.28. The stock’s 50 day moving average price is $39.32 and its 200 day moving average price is $35.86.

Ares Management (NYSE:ARES) last posted its earnings results on Wednesday, May 6th. The asset manager reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Ares Management had a return on equity of 15.52% and a net margin of 5.60%. The firm had revenue of $411.80 million for the quarter, compared to analysts’ expectations of $369.82 million. During the same period last year, the firm earned $0.35 EPS. Equities analysts anticipate that Ares Management Corp will post 1.66 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Ares Management in the 1st quarter valued at approximately $367,434,000. Capital World Investors lifted its holdings in Ares Management by 0.3% in the 1st quarter. Capital World Investors now owns 10,215,079 shares of the asset manager’s stock valued at $315,952,000 after acquiring an additional 28,575 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Ares Management by 122.9% in the 1st quarter. Wellington Management Group LLP now owns 6,625,147 shares of the asset manager’s stock valued at $204,916,000 after acquiring an additional 3,652,486 shares during the last quarter. Invesco Ltd. lifted its holdings in Ares Management by 44.6% in the 1st quarter. Invesco Ltd. now owns 3,306,512 shares of the asset manager’s stock valued at $102,271,000 after acquiring an additional 1,019,978 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Ares Management by 3.8% in the 1st quarter. William Blair Investment Management LLC now owns 2,676,607 shares of the asset manager’s stock valued at $82,787,000 after acquiring an additional 98,736 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

A number of brokerages have weighed in on ARES. TheStreet lowered Ares Management from a “b-” rating to a “c” rating in a research note on Monday, June 8th. Zacks Investment Research downgraded Ares Management from a “buy” rating to a “hold” rating in a report on Monday, July 13th. BMO Capital Markets raised Ares Management from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a report on Thursday, May 28th. Barclays increased their target price on Ares Management from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Oppenheimer reissued a “hold” rating on shares of Ares Management in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.45.

Ares Management Company 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.

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Insider Buying and Selling by Quarter for Ares Management (NYSE:ARES)

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