Ares Management (NYSE:ARES) Stock Rating Lowered by TheStreet

Ares Management (NYSE:ARESGet Rating) was downgraded by TheStreet from a “b” rating to a “c+” rating in a research report issued on Friday, TheStreetRatingsTable reports.

Several other brokerages have also recently issued reports on ARES. Zacks Investment Research cut shares of Ares Management from a “buy” rating to a “hold” rating in a report on Tuesday, March 29th. Morgan Stanley decreased their price objective on shares of Ares Management from $93.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 20th. UBS Group boosted their price objective on shares of Ares Management from $85.00 to $91.00 and gave the company a “buy” rating in a report on Monday, February 14th. Wells Fargo & Company decreased their price objective on shares of Ares Management from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Tuesday, April 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Ares Management from $95.00 to $90.00 in a report on Monday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $94.56.

Shares of ARES opened at $73.37 on Friday. The firm’s 50-day moving average price is $73.06 and its 200-day moving average price is $76.20. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 0.87 and a beta of 1.05. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.57. Ares Management has a 1-year low of $56.60 and a 1-year high of $90.08.

Ares Management (NYSE:ARESGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The asset manager reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). Ares Management had a return on equity of 14.60% and a net margin of 9.28%. The business had revenue of $715.00 million for the quarter, compared to the consensus estimate of $605.10 million. During the same period in the previous year, the firm earned $0.46 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Ares Management will post 3.24 EPS for the current fiscal year.

In other Ares Management news, insider Ares Capital Management Ii Llc purchased 3,000,000 shares of Ares Management stock in a transaction on Friday, April 1st. The stock was bought at an average cost of $25.00 per share, with a total value of $75,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 26,879 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $85.06, for a total transaction of $2,286,327.74. Following the transaction, the chief executive officer now directly owns 990,609 shares of the company’s stock, valued at $84,261,201.54. The disclosure for this sale can be found here. 49.34% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its holdings in Ares Management by 22.3% in the 4th quarter. Teacher Retirement System of Texas now owns 23,702 shares of the asset manager’s stock worth $1,926,000 after acquiring an additional 4,323 shares in the last quarter. UBS Group AG increased its holdings in Ares Management by 33.0% in the 3rd quarter. UBS Group AG now owns 602,138 shares of the asset manager’s stock worth $44,456,000 after acquiring an additional 149,475 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in Ares Management in the 3rd quarter worth $1,957,000. CIBC Private Wealth Group LLC increased its holdings in Ares Management by 16.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 50,195 shares of the asset manager’s stock worth $4,080,000 after acquiring an additional 7,209 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Ares Management by 9.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,377 shares of the asset manager’s stock worth $518,000 after acquiring an additional 554 shares in the last quarter. 47.42% of the stock is owned by hedge funds and other institutional investors.

Ares Management Company Profile (Get Rating)

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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