Metis Global Partners LLC Sells 913 Shares of Ares Management Corporation $ARES

Metis Global Partners LLC decreased its position in shares of Ares Management Corporation (NYSE:ARES) by 27.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,444 shares of the asset manager’s stock after selling 913 shares during the quarter. Metis Global Partners LLC’s holdings in Ares Management were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Ares Management by 129.6% during the first quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager’s stock valued at $291,000 after buying an additional 1,122 shares during the last quarter. TCW Group Inc. boosted its stake in Ares Management by 99.5% during the 1st quarter. TCW Group Inc. now owns 31,765 shares of the asset manager’s stock valued at $4,657,000 after purchasing an additional 15,846 shares during the last quarter. Alta Fox Capital Management LLC acquired a new position in Ares Management during the 1st quarter valued at about $2,453,000. Park Avenue Securities LLC bought a new stake in Ares Management during the 2nd quarter worth approximately $2,578,000. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Ares Management by 58.6% in the first quarter. Jupiter Asset Management Ltd. now owns 45,136 shares of the asset manager’s stock worth $6,617,000 after purchasing an additional 16,680 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James Financial assumed coverage on Ares Management in a research report on Monday, July 28th. They set a “market perform” rating on the stock. Morgan Stanley dropped their price objective on Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Oppenheimer set a $190.00 target price on shares of Ares Management and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a research report on Tuesday. Finally, Cowen reaffirmed a “buy” rating on shares of Ares Management in a research report on Tuesday, November 4th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.46.

Insider Activity at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the completion of the transaction, the chairman directly owned 1,424,538 shares of the company’s stock, valued at approximately $254,693,149.02. This represents a 12.11% 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, CEO Michael J. Arougheti sold 136,516 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total value of $24,946,933.84. Following the completion of the sale, the chief executive officer owned 311,728 shares in the company, valued at approximately $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,590,000 shares of company stock worth $464,430,639. 0.52% of the stock is owned by company insiders.

Ares Management Trading Down 0.2%

NYSE ARES opened at $153.62 on Thursday. The business’s fifty day moving average is $159.60 and its 200-day moving average is $169.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $50.19 billion, a price-to-earnings ratio of 88.80, a PEG ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter last year, the company posted $0.55 earnings per share. Equities research analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s payout ratio is 192.27%.

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.