20,507 Ares Management Corporation $ARES Shares Sold by Overbrook Management Corp

Overbrook Management Corp trimmed its holdings in Ares Management Corporation (NYSE:ARES) by 77.8% during the third quarter, Holdings Channel reports. The firm owned 5,862 shares of the asset manager’s stock after selling 20,507 shares during the quarter. Overbrook Management Corp’s holdings in Ares Management were worth $681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ARES. Marks Group Wealth Management Inc lifted its stake in Ares Management by 7.3% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,522 shares of the asset manager’s stock valued at $246,000 after buying an additional 103 shares during the period. Triumph Capital Management grew its position in shares of Ares Management by 127.3% during the 2nd quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after buying an additional 140 shares during the period. CoreCap Advisors LLC increased its stake in shares of Ares Management by 178.0% in the 3rd quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. Osbon Capital Management LLC acquired a new position in shares of Ares Management during the 4th quarter valued at $32,000. Finally, QRG Capital Management Inc. lifted its position in shares of Ares Management by 7.1% during the 1st quarter. QRG Capital Management Inc. now owns 3,345 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 221 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Ares Management stock traded up $0.53 during trading on Thursday, hitting $116.28. The stock had a trading volume of 2,742,569 shares, compared to its average volume of 2,947,961. The stock’s 50 day moving average is $132.79 and its two-hundred day moving average is $124.15. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $181.19. The stock has a market cap of $38.40 billion, a price-to-earnings ratio of 53.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, analysts predict that Ares Management Corporation will post 5.9 EPS for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $1.35 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $5.40 annualized dividend and a yield of 4.6%. Ares Management’s payout ratio is 247.71%.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of research reports. Barclays reduced their price target on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Wells Fargo & Company assumed coverage on shares of Ares Management in a research report on Friday, October 2nd. They set an “overweight” rating and a $136.00 price objective on the stock. Oppenheimer boosted their target price on Ares Management from $151.00 to $162.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Royal Bank Of Canada raised their price objective on Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Piper Sandler started coverage on Ares Management in a research report on Thursday, September 24th. They set an “overweight” rating and a $150.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.00.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.