Ares Management Corporation (NYSE: ARES) is 15.35% higher on its value in year-to-date trading and has touched a low of $31.37 and a high of $59.17 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ARES stock was last observed hovering at around $56.13 in the last trading session, with the day’s loss setting it -1.86% off its average median price target of $63.50 for the next 12 months. It is also 23.56% off the consensus price target high of $71.00 offered by 11 analysts, but current levels are 9.55% higher than the price target low of $60.00 for the same period.
Currently trading at $54.27, the stock is -2.70% and 0.18% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.75 million and changing -3.31% at the moment leaves the stock 17.13% off its SMA200. ARES registered 54.66% gain for a year compared to 6-month gain of 26.36%. The firm has a 50-day simple moving average (SMA 50) of $53.32 and a 200-day simple moving average (SMA200) of $47.25.
The stock witnessed a 2.15% loss in the last 1 month and extending the period to 3 months gives it a 17.62%, and is -1.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.31% over the week and 2.73% over the month.
Ares Management Corporation (ARES) has around 1450 employees, a market worth around $14.68B and $1.77B in sales. Current P/E ratio is 90.30 and Fwd P/E is 20.20. Profit margin for the company is 6.80%. Distance from 52-week low is 73.00% and -8.27% from its 52-week high. The company has generated returns on investments over the last 12 months (2.20%).
Ares Management Corporation (ARES) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ares Management Corporation (ARES) is a “Buy”. 11 analysts offering their recommendations for the stock have an average rating of 2.00, where 2 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Ares Management Corporation is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.51 with sales reaching $445.64M over the same period.The EPS is expected to shrink by -19.50% this year, but quarterly earnings will post 11.50% year-over-year. Quarterly sales are estimated to grow 3,223.40% in year-over-year returns.
Ares Management Corporation (ARES) Top Institutional Holders
335 institutions hold shares in Ares Management Corporation (ARES), with 31.8M shares held by insiders accounting for 21.26% while institutional investors hold 80.89% of the company’s shares. The shares outstanding are 144.66M, and float is at 102.29M with Short Float at 1.50%. Institutions hold 63.69% of the Float.
The top institutional shareholder in the company is Wellington Management Group, LLP with over 12.81 million shares valued at $602.78 million. The investor’s holdings represent 8.57% of the ARES Shares outstanding. As of Dec 30, 2020, the second largest holder is Sumitomo Mitsui Financial Group, Inc. with 12.13 million shares valued at $570.74 million to account for 8.11% of the shares outstanding. The other top investors are Capital World Investors which holds 10.21 million shares representing 6.83% and valued at over $480.6 million, while Vanguard Group, Inc. (The) holds 6.35% of the shares totaling 9.49 million with a market value of $446.43 million.
Ares Management Corporation (ARES) Insider Activity
A total of 83 insider transactions have happened at Ares Management Corporation (ARES) in the last six months, with sales accounting for 68 and purchases happening 15 times. The most recent transaction is an insider sale by Rosenthal Bennett, the company’s Co-Founder & Co-Chair of PEG. SEC filings show that Rosenthal Bennett sold 4,025 shares of the company’s common stock on Feb 19 at a price of $52.06 per share for a total of $0.21 million. Following the sale, the insider now owns 0.0 shares.
Ares Management Corporation disclosed in a document filed with the SEC on Feb 18 that Rosenthal Bennett (Co-Founder & Co-Chair of PEG) sold a total of 45,013 shares of the company’s common stock. The trade occurred on Feb 18 and was made at $52.24 per share for $2.35 million. Following the transaction, the insider now directly holds 4025.0 shares of the ARES stock.
Still, SEC filings show that on Feb 17, Rosenthal Bennett (Co-Founder & Co-Chair of PEG) disposed off 58,184 shares at an average price of $52.98 for $3.08 million. The insider now directly holds 49,038 shares of Ares Management Corporation (ARES).