Ares Management (ARES) Downgraded by Zacks Investment Research
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
A number of other brokerages also recently weighed in on ARES. Goldman Sachs Group raised shares of Ares Management from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Friday, January 4th. ValuEngine downgraded shares of Ares Management from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.00.
Ares Management (NYSE:ARES) last posted its quarterly earnings data on Thursday, February 14th. The asset manager reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.10. The business had revenue of $247.40 million during the quarter, compared to the consensus estimate of $241.59 million. Ares Management had a net margin of 5.95% and a return on equity of 28.58%. The company’s quarterly revenue was down 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. Equities analysts anticipate that Ares Management will post 1.57 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV acquired a new stake in Ares Management during the 1st quarter worth about $405,000. Brinker Capital Inc. raised its holdings in Ares Management by 65.1% during the 1st quarter. Brinker Capital Inc. now owns 83,838 shares of the asset manager’s stock worth $1,946,000 after buying an additional 33,069 shares during the period. Cordasco Financial Network acquired a new stake in Ares Management during the 1st quarter worth about $70,000. Tibra Equities Europe Ltd acquired a new stake in Ares Management during the 1st quarter worth about $1,472,000. Finally, American Century Companies Inc. raised its holdings in Ares Management by 14.3% during the 4th quarter. American Century Companies Inc. now owns 2,224,981 shares of the asset manager’s stock worth $39,560,000 after buying an additional 278,783 shares during the period. Hedge funds and other institutional investors own 59.55% 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.
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