Ares Management Corp (NYSE:ARES) Insider Sells $256,691.00 in Stock

Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 6,515 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $39.40, for a total transaction of $256,691.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

R. Kipp Deveer also recently made the following trade(s):

  • On Friday, July 31st, R. Kipp Deveer sold 637 shares of Ares Management stock. The stock was sold at an average price of $40.02, for a total transaction of $25,492.74.
  • On Wednesday, July 29th, R. Kipp Deveer sold 33,497 shares of Ares Management stock. The stock was sold at an average price of $40.37, for a total transaction of $1,352,273.89.
  • On Friday, July 24th, R. Kipp Deveer sold 102,384 shares of Ares Management stock. The stock was sold at an average price of $39.06, for a total transaction of $3,999,119.04.
  • On Wednesday, July 22nd, R. Kipp Deveer sold 1,848 shares of Ares Management stock. The stock was sold at an average price of $41.03, for a total transaction of $75,823.44.
  • On Monday, July 20th, R. Kipp Deveer sold 53,375 shares of Ares Management stock. The stock was sold at an average price of $41.11, for a total transaction of $2,194,246.25.
  • On Wednesday, July 15th, R. Kipp Deveer sold 34,464 shares of Ares Management stock. The shares were sold at an average price of $40.29, for a total transaction of $1,388,554.56.
  • On Monday, July 13th, R. Kipp Deveer sold 1,390 shares of Ares Management stock. The shares were sold at an average price of $40.01, for a total transaction of $55,613.90.
  • On Thursday, July 2nd, R. Kipp Deveer sold 100 shares of Ares Management stock. The shares were sold at an average price of $40.02, for a total transaction of $4,002.00.
  • On Monday, June 22nd, R. Kipp Deveer sold 81,393 shares of Ares Management stock. The shares were sold at an average price of $40.05, for a total transaction of $3,259,789.65.
  • On Monday, May 4th, R. Kipp Deveer sold 8,274 shares of Ares Management stock. The shares were sold at an average price of $31.81, for a total transaction of $263,195.94.

Ares Management stock opened at $39.94 on Friday. Ares Management Corp has a 12-month low of $20.20 and a 12-month high of $41.88. The stock has a market cap of $9.89 billion, a P/E ratio of 22.01, a PEG ratio of 3.46 and a beta of 1.28. The company has a 50-day moving average price of $39.32 and a 200 day moving average price of $35.86. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.75.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Wednesday, May 6th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. The firm had revenue of $411.80 million during the quarter, compared to analysts’ expectations of $369.82 million. During the same period last year, the business earned $0.35 earnings per share. As a group, analysts forecast that Ares Management Corp will post 1.66 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. acquired a new stake in Ares Management during the second quarter worth about $36,000. RMR Wealth Builders purchased a new stake in shares of Ares Management during the 4th quarter worth $36,000. Advisors Asset Management Inc. purchased a new stake in shares of Ares Management during the 4th quarter worth $44,000. Valeo Financial Advisors LLC purchased a new stake in shares of Ares Management during the 2nd quarter worth $181,000. Finally, USA Financial Portformulas Corp boosted its position in shares of Ares Management by 143.6% during the 1st quarter. USA Financial Portformulas Corp now owns 6,014 shares of the asset manager’s stock worth $186,000 after purchasing an additional 3,545 shares in the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Several equities analysts have issued reports on ARES shares. BMO Capital Markets raised shares of Ares Management from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $47.00 in a report on Thursday, May 28th. Oppenheimer reaffirmed a “hold” rating on shares of Ares Management in a report on Wednesday, May 6th. Bank of America increased their target price on shares of Ares Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Zacks Investment Research cut shares of Ares Management from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Co increased their target price on shares of Ares Management from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Ares Management has a consensus rating of “Buy” and a consensus price target of $42.45.

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.

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Insider Buying and Selling by Quarter for Ares Management (NYSE:ARES)

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