AlphaQuest LLC Lowers Stock Holdings in Ares Management Corporation $ARES

AlphaQuest LLC trimmed its position in Ares Management Corporation (NYSE:ARES) by 80.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192 shares of the asset manager’s stock after selling 784 shares during the period. AlphaQuest LLC’s holdings in Ares Management were worth $33,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MGO One Seven LLC lifted its stake in shares of Ares Management by 1.3% in the 2nd quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager’s stock worth $793,000 after acquiring an additional 60 shares during the period. Smartleaf Asset Management LLC raised its holdings in Ares Management by 9.1% during the first quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager’s stock worth $108,000 after purchasing an additional 62 shares in the last quarter. Cigna Investments Inc. New lifted its position in Ares Management by 3.4% in the second quarter. Cigna Investments Inc. New now owns 1,890 shares of the asset manager’s stock valued at $327,000 after purchasing an additional 62 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $197,000 after purchasing an additional 70 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in Ares Management by 2.1% during the 2nd quarter. QRG Capital Management Inc. now owns 3,619 shares of the asset manager’s stock worth $627,000 after purchasing an additional 74 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARES has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Tuesday, October 14th. Barclays cut their price objective on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Bank of America boosted their target price on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. TD Cowen upped their price target on shares of Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Citigroup reiterated a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.79.

Insider Buying and Selling

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 2,590,000 shares of company stock worth $464,430,639. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Price Performance

Shares of NYSE ARES opened at $153.68 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $161.09 and its 200 day moving average price is $168.77. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The stock has a market cap of $50.21 billion, a price-to-earnings ratio of 88.83, a PEG ratio of 1.19 and a beta of 1.45.

Ares Management (NYSE:ARES) last announced its earnings results on Monday, November 3rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a $0.8438 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a yield of 2.2%. Ares Management’s dividend payout ratio is presently 192.27%.

Ares Management 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.