Ares Management (NYSE: ARES)Morgan Stanley stock has had its “hold” rating reaffirmed by Morgan Stanley research analysts in a report released Friday, TipRanks reports. They currently have a price target of $ 92.00 on the Asset Manager’s stock. Morgan Stanley’s price target points to a potential rise of 15.16% from the current share price.
ARES has been the subject of several other research reports. BMO Capital Markets increased its target price on Ares Management from $ 77.00 to $ 85 and assigned the stock an “outperformance” rating in a research report released on Friday, August 13. Zacks Investment Research downgraded Ares Management from a “buy” rating to a “keep” rating in a research report released on Thursday, November 4. Jefferies Financial Group raised its price target for Ares Management from $ 82.00 to $ 86.00 and gave the stock a “buy” rating in a research report on Thursday, September 30. Finally, the Royal Bank of Canada raised its price target on Ares Management from $ 87.00 to $ 98.00 and gave the stock an “outperformance” rating in a report released on Friday October 29th. Three equity research analysts rated the stock with a conservation rating and six issued a buy rating for the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 78.38.
Ares Management stock traded down $ 3.33 at midday on Friday, reaching $ 79.89. The company’s shares had a trade volume of 665,622 shares, compared to an average volume of 561,733. The company’s 50-day moving average is $ 81.73 and its 200-day moving average is 72 , $ 07. The company has a market cap of $ 23.16 billion, a PE ratio of 41.61 and a beta of 1.04. The company has a debt to equity ratio of 0.38, a current ratio of 0.19, and a rapid ratio of 0.19. Ares Management has a 52 week low of $ 44.43 and a 52 week high of $ 90.08.
Ares Management (NYSE: ARES) last released its quarterly earnings data on Wednesday, October 27. The asset manager reported earnings of $ 0.62 per share for the quarter, missing Zacks’ consensus estimate of $ 0.64 ($ 0.02). Ares Management has a net margin of 10.23% and a return on equity of 14.96%. During the same period of the previous year, the company achieved earnings per share of $ 0.48. As a group, analysts expect Ares Management to post EPS of 2.46 for the current year.
Separately, insider R. Kipp Deveer sold 32,122 shares of the company in a trade on Friday, October 29. The shares were sold for an average price of $ 84.83, for a total value of $ 2,724,909.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through the SEC website. In addition, the main shareholder Ares Management Llc acquired 424,119 shares in a transaction dated Friday September 24. The shares were purchased at an average cost of $ 26.95 per share, for a total value of $ 11,430,007.05. Disclosure of this purchase can be found here. Insiders have sold a total of 213,404 shares of the company valued at $ 18,219,189 in the past ninety days. 49.34% of the shares are currently held by insiders.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Captrust Financial Advisors bought a new position in Ares Management shares in the 1st quarter valued at $ 33,000. Harbor Investment Advisory LLC increased its stake in Ares Management shares by 120.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 550 shares of the asset manager valued at $ 41,000 after purchasing an additional 300 shares in the last quarter. Liberty Wealth Management LLC increased its stake in Ares Management shares by 310.3% in the 3rd quarter. Liberty Wealth Management LLC now owns 595 shares of the asset manager valued at $ 49,000 after purchasing 450 additional shares in the last quarter. Advisory Services Network LLC purchased a new stake in Ares Management shares in the 2nd quarter for a value of approximately $ 54,000. Finally, Bessemer Group Inc. purchased a new position in Ares Management shares during the second quarter valued at approximately $ 76,000. Institutional investors and hedge funds hold 44.43% of the company’s shares.
Profile of the management company Ares
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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