Oppenheimer & Co. Inc. increased its stake in shares of Ares Management Corp (NYSE:ARES) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,696 shares of the asset manager’s stock after acquiring an additional 865 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Management were worth $489,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Ares Management during the first quarter worth $29,366,000. FMR LLC increased its holdings in shares of Ares Management by 16.5% in the first quarter. FMR LLC now owns 2,808,368 shares of the asset manager’s stock worth $65,182,000 after acquiring an additional 396,792 shares in the last quarter. Partners Group Holding AG raised its position in shares of Ares Management by 161.0% during the second quarter. Partners Group Holding AG now owns 581,105 shares of the asset manager’s stock worth $15,208,000 after purchasing an additional 358,479 shares during the period. Hilton Capital Management LLC raised its position in shares of Ares Management by 38.2% during the first quarter. Hilton Capital Management LLC now owns 923,611 shares of the asset manager’s stock worth $21,437,000 after purchasing an additional 255,096 shares during the period. Finally, FSI Group LLC bought a new position in shares of Ares Management during the 1st quarter valued at about $2,321,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Michael J. Arougheti sold 78,801 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $25.96, for a total transaction of $2,045,673.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ares Management Llc sold 350,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $0.10, for a total value of $35,000.00. Following the transaction, the director now directly owns 86,857 shares in the company, valued at $8,685.70. The disclosure for this sale can be found here. Insiders have sold 6,292,805 shares of company stock valued at $37,507,784 in the last 90 days. 151.62% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on ARES. Morgan Stanley boosted their price objective on Ares Management from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. TheStreet raised shares of Ares Management from a “c+” rating to a “b” rating in a research note on Friday, August 16th. UBS Group increased their target price on Ares Management from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Barclays began coverage on Ares Management in a report on Monday, August 5th. They set an “overweight” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ares Management has a consensus rating of “Buy” and a consensus price target of $28.29.

NYSE ARES traded up $0.29 during trading on Wednesday, hitting $29.42. The stock had a trading volume of 4,186 shares, compared to its average volume of 410,334. Ares Management Corp has a 12 month low of $16.18 and a 12 month high of $30.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day moving average price is $28.63 and its two-hundred day moving average price is $26.10. The company has a market capitalization of $3.14 billion, a PE ratio of 20.70, a P/E/G ratio of 1.65 and a beta of 1.45.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Ares Management had a return on equity of 22.54% and a net margin of 7.77%. The business had revenue of $384.80 million for the quarter, compared to the consensus estimate of $300.41 million. During the same period in the prior year, the business earned $0.34 earnings per share. Ares Management’s revenue was up 88.4% compared to the same quarter last year. As a group, equities analysts anticipate that Ares Management Corp will post 1.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, September 13th. Ares Management’s payout ratio is 90.14%.

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.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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