Bank of America investment analysts launched a hedge on shares of Ares Management (NYSE: ARES) in a research report released Thursday to clients and investors, The Fly reports. The brokerage firm has set a “buy” rating and a price target of $ 117.00 on the asset manager’s stock. Bank of America’s price target indicates a potential rise of 50.54% from the company’s current price.
Several other stock analysts have also published reports on the stock. Jefferies Financial Group raised its price target for Ares Management shares from $ 82.00 to $ 86.00 and gave the company a “buy” rating in a report released on Thursday, September 30. Zacks Investment Research downgraded Ares Management’s shares from a “buy” rating to a “hold” rating in a report released on Thursday, November 4. Wells Fargo & Company provided coverage of Ares Management shares in a report released on Wednesday. They set an “overweight” rating and a price target of $ 96.00 on the stock. Morgan Stanley reissued a “hold” note and set a price target of $ 92.00 on Ares Management shares in a report released on Friday, December 3. Finally, the Royal Bank of Canada raised its price target on Ares Management shares from $ 87.00 to $ 98.00 and assigned the company an “outperformance” rating in a report released on Friday October 29th. . Three analysts rated the stock with a conservation rating and seven issued a buy rating for the stock. According to data from MarketBeat.com, Ares Management has a consensus rating of “Buy” and a consensus target price of $ 85.44.
NYSE: ARES shares opened at $ 77.72 on Thursday. The company has a market cap of $ 22.53 billion, a PE ratio of 40.48 and a beta of 1.04. The company’s 50-day simple moving average is $ 82.48 and its 200-day simple moving average is $ 73.62. Ares Management has a one-year minimum of $ 44.43 and a one-year maximum of $ 90.08. The company has a debt to equity ratio of 0.38, a quick ratio of 0.19, and a current ratio of 0.19.
Ares Management (NYSE: ARES) last released its results on Wednesday, October 27. The asset manager reported $ 0.62 in EPS for the quarter, missing Zacks’ consensus estimate of $ 0.64 ($ 0.02). The company posted revenue of $ 512.59 million for the quarter, compared to $ 528.44 million expected by analysts. Ares Management achieved a return on equity of 14.96% and a net margin of 10.23%. During the same period last year, the company posted earnings per share of $ 0.48. Equity research analysts predict that Ares Management will post EPS of 2.46 for the current fiscal year.
Separately, insider R. Kipp Deveer sold 32,122 shares of the company in a transaction dated Friday, October 29. The stock was sold for an average price of $ 84.83, for a total value of $ 2,724,909.26. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available through this link. In addition, the main shareholder Ares Management Llc acquired 424,119 shares of Ares Management in a transaction dated Friday 24 September. The stock was purchased at an average price of $ 26.95 per share, for a total value of $ 11,430,007.05. Disclosure of this purchase can be found here. In the past 90 days, insiders have sold 213,404 shares of the company valued at $ 18,219,189. Company insiders own 49.34% of the company’s shares.
A number of hedge funds have recently changed their positions in ARES. Marshall Wace LLP purchased a new position in Ares Management during the first quarter, valued at approximately $ 145,000. Advisors Asset Management Inc. increased its position in Ares Management by 13.2% during the second quarter. Advisors Asset Management Inc. now owns 14,994 shares of the asset manager valued at $ 953,000 after acquiring an additional 1,750 shares during the last quarter. National Huntington Bank acquired a new position in Ares Management during the second quarter valued at approximately $ 254,000. Capital Advisors Inc. OK increased its stake in Ares Management by 3.1% in the second quarter. Capital Advisors Inc. OK now owns 247,839 shares of the asset manager valued at $ 15,760,000 after purchasing an additional 7,481 shares during the period. Finally, Advisor Group Holdings Inc. increased its stake in Ares Management by 16.2% in the second quarter. Advisor Group Holdings Inc. now owns 79,687 shares of the asset manager valued at $ 5,069,000 after purchasing an additional 11,108 shares during the period. Institutional investors hold 44.43% of the shares of the company.
About Ares Management
Ares Management Corp. provides investment management and advisory services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies spanning the entire liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed and state-backed investments. -United.
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