Ares Management (NYSE:ARES) Lowered to C+ at TheStreet

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

A number of other research analysts have also issued reports on ARES. Royal Bank of Canada dropped their price target on shares of Ares Management from $95.00 to $90.00 in a research note on Monday, May 2nd. Zacks Investment Research lowered shares of Ares Management from a “buy” rating to a “hold” rating in a research report on Tuesday, March 29th. Morgan Stanley lowered their price target on shares of Ares Management from $93.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 20th. StockNews.com assumed coverage on shares of Ares Management in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Ares Management from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $94.56.

NYSE:ARES opened at $73.37 on Friday. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 0.87 and a beta of 1.05. The company has a fifty day simple moving average of $73.06 and a two-hundred day simple moving average of $76.20. Ares Management has a 52 week low of $56.60 and a 52 week high of $90.08. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.57.

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

In other news, insider Ares Capital Management Ii Llc acquired 3,000,000 shares of Ares Management stock in a transaction dated Friday, April 1st. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $75,000,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 26,879 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 990,609 shares of the company’s stock, valued at $84,261,201.54. The disclosure for this sale can be found here. Insiders own 49.34% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Curated Wealth Partners LLC increased its position in Ares Management by 2,612.8% during the fourth quarter. Curated Wealth Partners LLC now owns 1,676,948 shares of the asset manager’s stock worth $136,285,000 after acquiring an additional 1,615,131 shares during the period. Wellington Management Group LLP increased its position in Ares Management by 10.1% during the third quarter. Wellington Management Group LLP now owns 16,801,355 shares of the asset manager’s stock worth $1,240,444,000 after acquiring an additional 1,548,154 shares during the period. Norges Bank bought a new position in Ares Management during the fourth quarter worth $102,269,000. JPMorgan Chase & Co. increased its position in Ares Management by 532.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,465,785 shares of the asset manager’s stock worth $119,124,000 after acquiring an additional 1,234,187 shares during the period. Finally, River Road Asset Management LLC increased its position in Ares Management by 1,212.8% during the first quarter. River Road Asset Management LLC now owns 641,608 shares of the asset manager’s stock worth $52,118,000 after acquiring an additional 592,734 shares during the period. Institutional investors and hedge funds own 47.42% of the company’s stock.

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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Analyst Recommendations for Ares Management (NYSE:ARES)

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