Overbrook Management Corp Lowers Stock Holdings in Ares Management Co. (NYSE:ARES)

Overbrook Management Corp lessened its stake in shares of Ares Management Co. (NYSE:ARES) by 31.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,317 shares of the asset manager’s stock after selling 42,123 shares during the quarter. Ares Management comprises approximately 3.3% of Overbrook Management Corp’s portfolio, making the stock its 12th biggest position. Overbrook Management Corp’s holdings in Ares Management were worth $12,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new position in Ares Management during the first quarter worth $28,000. Rise Advisors LLC lifted its stake in shares of Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 102 shares during the period. Riverview Trust Co purchased a new stake in Ares Management during the first quarter worth about $29,000. Hartford Financial Management Inc. grew its position in Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after buying an additional 90 shares during the period. Finally, Arlington Trust Co LLC purchased a new position in Ares Management in the fourth quarter valued at about $34,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ares Management

In other news, Director Judy D. Olian sold 3,417 shares of Ares Management stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $134.00, for a total transaction of $457,878.00. Following the sale, the director now owns 27,312 shares of the company’s stock, valued at $3,659,808. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the transaction, the chief executive officer now directly owns 92,163 shares of the company’s stock, valued at approximately $13,660,399.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Judy D. Olian sold 3,417 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $134.00, for a total value of $457,878.00. Following the completion of the sale, the director now directly owns 27,312 shares in the company, valued at approximately $3,659,808. The disclosure for this sale can be found here. Insiders have sold a total of 1,612,693 shares of company stock worth $218,186,465 in the last ninety days. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ARES has been the subject of several research reports. UBS Group lifted their price objective on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group reduced their target price on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. TD Cowen increased their price target on Ares Management from $154.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Ares Management from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $132.00 in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Hold” and a consensus target price of $130.29.

Ares Management Stock Performance

Shares of ARES stock traded up $0.50 on Thursday, hitting $135.95. 1,096,929 shares of the stock traded hands, compared to its average volume of 1,151,704. The company’s fifty day moving average is $137.96 and its 200 day moving average is $130.46. Ares Management Co. has a 1-year low of $92.43 and a 1-year high of $150.12. The company has a market capitalization of $42.12 billion, a PE ratio of 60.96, a PEG ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The business had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. During the same period in the prior year, the company earned $0.71 EPS. On average, equities research analysts predict that Ares Management Co. will post 4.25 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.74%. Ares Management’s dividend payout ratio is currently 166.82%.

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.