Ares Management (NYSE:ARES) Stock Rating Upgraded by JMP Securities

Ares Management (NYSE:ARES) was upgraded by JMP Securities from a “market perform” rating to a “market outperform” rating in a research report issued on Tuesday,Benzinga reports. The firm presently has a $165.00 price target on the asset manager’s stock. JMP Securities’ target price suggests a potential upside of 32.09% from the company’s current price.

A number of other brokerages have also issued reports on ARES. Barclays dropped their target price on Ares Management from $217.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company lowered their price objective on shares of Ares Management from $215.00 to $187.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Citizens Jmp upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Tuesday. StockNews.com lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.87.

Ares Management Stock Up 0.1 %

ARES stock traded up $0.18 during mid-day trading on Tuesday, hitting $124.91. 2,587,189 shares of the company were exchanged, compared to its average volume of 1,695,474. The firm has a market cap of $39.40 billion, a P/E ratio of 61.58, a P/E/G ratio of 1.28 and a beta of 1.32. Ares Management has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day simple moving average is $165.27 and its 200 day simple moving average is $170.11.

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

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 69,809 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following 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 SEC, which is available at this hyperlink. Also, insider R. Kipp Deveer sold 78,933 shares of Ares Management 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 completion of the sale, the insider now owns 1,150,000 shares of the company’s stock, valued at approximately $218,523,000. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,113 shares of company stock valued at $54,409,915. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

A number of hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in shares of Ares Management by 67.0% during 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 acquired a new stake in Ares Management during the fourth quarter worth about $29,000. Johnson Financial Group Inc. lifted its holdings in shares of Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after acquiring an additional 87 shares during the period. Elequin Capital LP acquired a new stake in shares of Ares Management during the 4th quarter worth approximately $33,000. Finally, Point72 DIFC Ltd bought a new position in Ares Management in the third quarter valued at approximately $36,000. Institutional investors own 50.03% of the company’s stock.

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.