TD Cowen Issues Pessimistic Forecast for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES) had its price target dropped by research analysts at TD Cowen from $216.00 to $161.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target suggests a potential upside of 18.49% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Citizens Jmp raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Ares Management from $187.00 to $156.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Bank of America reduced their target price on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.07.

Ares Management Stock Down 4.6 %

ARES stock opened at $135.87 on Wednesday. The company’s 50 day moving average is $159.01 and its 200 day moving average is $169.11. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of 66.93, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Sell-side analysts predict that Ares Management will post 5.28 EPS for the current fiscal year.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 110,845 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $153.17, for a total value of $16,978,128.65. Following the sale, the chief executive officer now directly owns 1,400,000 shares of the company’s stock, valued at $214,438,000. This represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ashish Bhutani acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the acquisition, the director now owns 22,905 shares of the company’s stock, valued at $3,237,163.65. This represents a 77.49 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 329,113 shares of company stock worth $54,409,915 over the last quarter. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ares Management

Several large investors have recently made changes to their positions in ARES. Versant Capital Management Inc boosted its stake in Ares Management by 67.0% in the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after purchasing an additional 65 shares in the last quarter. Transce3nd LLC purchased a new position in Ares Management in the fourth quarter worth about $29,000. Johnson Financial Group Inc. raised its holdings in Ares Management by 104.8% in the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after buying an additional 87 shares during the last quarter. Elequin Capital LP bought a new position in shares of Ares Management in the fourth quarter worth approximately $33,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Ares Management during the fourth quarter valued at approximately $36,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Company Profile

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.