Morgan Stanley Issues Pessimistic Forecast for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES) had its price objective reduced by investment analysts at Morgan Stanley from $197.00 to $152.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 7.51% from the company’s current price.

ARES has been the subject of a number of other reports. Bank of America reduced their target price on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Barclays reduced their price objective on Ares Management from $217.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company cut their target price on Ares Management from $187.00 to $156.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. JMP Securities raised Ares Management from a “market perform” rating to a “market outperform” rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.40.

Ares Management Stock Up 2.2 %

NYSE:ARES opened at $141.39 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average of $155.82 and a 200-day moving average of $168.74. The firm has a market capitalization of $44.59 billion, a PE ratio of 69.65, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. Ares Management has a 52 week low of $110.63 and a 52 week high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data 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%. Analysts predict that Ares Management will post 5.28 EPS for the current year.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 110,845 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $153.17, for a total value of $16,978,128.65. Following the completion of the transaction, the chief executive officer now directly owns 1,400,000 shares in the company, valued at $214,438,000. This trade represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider R. Kipp Deveer sold 78,933 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the sale, the insider now owns 1,150,000 shares in the company, valued at $218,523,000. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,113 shares of company stock valued at $54,409,915 over the last three months. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

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

About Ares Management

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.