Advent International L.P. Makes New Investment in Ares Management Corporation $ARES

Advent International L.P. acquired a new position in Ares Management Corporation (NYSE:ARES) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 157,535 shares of the asset manager’s stock, valued at approximately $27,285,000. Ares Management accounts for 0.9% of Advent International L.P.’s portfolio, making the stock its 17th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Ares Management in the second quarter worth about $35,000. Banque Transatlantique SA purchased a new stake in shares of Ares Management in the first quarter valued at approximately $39,000. Ameritas Advisory Services LLC purchased a new stake in Ares Management in the 2nd quarter valued at $43,000. Westpac Banking Corp increased its position in Ares Management by 33.1% during the first quarter. Westpac Banking Corp now owns 442 shares of the asset manager’s stock worth $65,000 after purchasing an additional 110 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Ares Management by 708.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock valued at $72,000 after buying an additional 432 shares during the period. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of Ares Management stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $157.26, for a total transaction of $8,846,975.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 590,000 shares of company stock valued at $90,653,808 in the last 90 days. 36.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ARES shares. BMO Capital Markets began coverage on shares of Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a research report on Monday, September 29th. TD Cowen increased their price target on shares of Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group assumed coverage on shares of Ares Management in a report on Thursday. They issued a “neutral” rating and a $201.00 price objective for the company. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.64.

Ares Management Stock Down 1.6%

ARES stock opened at $173.99 on Friday. The company’s 50 day moving average price is $153.00 and its 200 day moving average price is $168.18. The firm has a market capitalization of $56.87 billion, a price-to-earnings ratio of 74.67, a PEG ratio of 1.37 and a beta of 1.53. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.55 EPS. On average, equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a $0.8438 dividend. This represents a $3.38 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s dividend payout ratio is 192.27%.

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.