Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 6,515 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $39.40, for a total value of $256,691.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • 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 value 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 value 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 value 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 value of $2,194,246.25.
  • On Wednesday, July 15th, R. Kipp Deveer sold 34,464 shares of Ares Management stock. The stock was sold at an average price of $40.29, for a total value of $1,388,554.56.
  • On Monday, July 13th, R. Kipp Deveer sold 1,390 shares of Ares Management stock. The stock was sold at an average price of $40.01, for a total value of $55,613.90.
  • On Thursday, July 2nd, R. Kipp Deveer sold 100 shares of Ares Management stock. The stock was sold at an average price of $40.02, for a total value of $4,002.00.
  • On Monday, June 22nd, R. Kipp Deveer sold 81,393 shares of Ares Management stock. The stock was sold at an average price of $40.05, for a total value of $3,259,789.65.
  • On Monday, May 4th, R. Kipp Deveer sold 8,274 shares of Ares Management stock. The stock was sold at an average price of $31.81, for a total value of $263,195.94.

NYSE ARES opened at $39.83 on Friday. Ares Management Corp has a 1-year low of $20.20 and a 1-year high of $41.88. The company has a market capitalization of $10.02 billion, a P/E ratio of 22.35, a PEG ratio of 3.51 and a beta of 1.28. The business has a 50 day moving average price of $39.31 and a 200 day moving average price of $35.84. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.23 and a quick ratio of 0.23.

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

ARES has been the subject of a number of recent research reports. Credit Suisse Group increased their price objective on Ares Management from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. BMO Capital Markets raised Ares Management from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a research note on Thursday, May 28th. Barclays increased their target price on Ares Management from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. TheStreet downgraded Ares Management from a “b-” rating to a “c” rating in a research note on Monday, June 8th. Finally, Oppenheimer reissued a “hold” rating on shares of Ares Management in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.45.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC increased its stake in Ares Management by 3.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 950,700 shares of the asset manager’s stock valued at $37,743,000 after purchasing an additional 30,142 shares in the last quarter. Stelac Advisory Services LLC increased its position in Ares Management by 25.3% during the second quarter. Stelac Advisory Services LLC now owns 24,219 shares of the asset manager’s stock worth $961,000 after buying an additional 4,884 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ares Management by 49.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,656 shares of the asset manager’s stock worth $423,000 after buying an additional 3,547 shares in the last quarter. Heard Capital LLC increased its position in Ares Management by 25.0% during the second quarter. Heard Capital LLC now owns 24,991 shares of the asset manager’s stock worth $992,000 after buying an additional 4,991 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. purchased a new position in Ares Management during the second quarter worth $36,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

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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