Ares Management (NYSE:ARES) Rating Lowered to “Market Perform” at Oppenheimer

Ares Management (NYSE:ARES) was downgraded by investment analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, Marketbeat reports.

Several other analysts have also recently commented on ARES. Wolfe Research set a $193.00 target price on Ares Management and gave the company an “outperform” rating in a report on Tuesday, May 6th. Citizens Jmp raised 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, April 8th. Morgan Stanley dropped their price target on Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Barclays boosted their price target on Ares Management from $142.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, JMP Securities boosted their price target on Ares Management from $165.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Ares Management Stock Performance

Shares of ARES stock opened at $170.33 on Thursday. The business’s 50 day simple moving average is $148.51 and its 200 day simple moving average is $167.60. Ares Management has a one year low of $110.63 and a one year high of $200.49. The stock has a market capitalization of $53.72 billion, a PE ratio of 83.91, a PEG ratio of 1.28 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last announced its earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $0.94 by $0.15. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. The business had revenue of $951.96 million for the quarter, compared to analysts’ expectations of $914.00 million. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, research analysts forecast that Ares Management will post 5.28 earnings per share for the current year.

Insider Activity at Ares Management

In other Ares Management news, Chairman Bennett Rosenthal sold 69,809 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total value of $11,239,947.09. Following the completion of the transaction, the chairman now owns 30,191 shares in the company, valued at $4,861,052.91. This represents a 69.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of the company’s stock in a transaction on 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 owns 1,400,000 shares of the company’s stock, valued at $214,438,000. This trade represents a 7.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 250,180 shares of company stock valued at $39,411,066. 36.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Empowered Funds LLC grew its stake in Ares Management by 42.7% in the 1st quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock valued at $909,000 after purchasing an additional 1,853 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in Ares Management by 1.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 23,074 shares of the asset manager’s stock valued at $3,383,000 after purchasing an additional 297 shares during the period. NewEdge Advisors LLC grew its stake in shares of Ares Management by 86.6% during the 1st quarter. NewEdge Advisors LLC now owns 64,971 shares of the asset manager’s stock worth $9,525,000 after acquiring an additional 30,144 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ares Management by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after acquiring an additional 70 shares during the last quarter. Finally, Cinctive Capital Management LP increased its holdings in Ares Management by 145.5% in the 1st quarter. Cinctive Capital Management LP now owns 11,197 shares of the asset manager’s stock worth $1,642,000 after acquiring an additional 6,637 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

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.