Ares Management Corporation (NYSE: ARES) is 21.81% higher on its value in year-to-date trading and has touched a low of $52.69 and a high of $90.28 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 $84.74 in the last trading session, with the day’s loss setting it -1.37% off its average median price target of $99.00 for the next 12 months. It is also 22.81% off the consensus price target high of $108.00 offered by 15 analysts, but current levels are 6.33% higher than the price target low of $89.00 for the same period.
Currently trading at $83.37, the stock is 0.67% and 1.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.22 million and changing -1.62% at the moment leaves the stock 9.15% off its SMA200. ARES registered 23.99% gain for a year compared to 6-month gain of 7.86%. The firm has a 50-day simple moving average (SMA 50) of $8.66 and a 200-day simple moving average (SMA200) of $23.44.
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The stock witnessed a 0.12% loss in the last 1 month and extending the period to 3 months gives it a 1.71%, and is 0.20% up 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 2.31% over the week and 2.95% over the month.
Ares Management Corporation (ARES) has around 2550 employees, a market worth around $24.76B and $3.15B in sales. Current P/E ratio is 74.17 and Fwd P/E is 16.34. Profit margin for the company is 6.30%. Distance from 52-week low is 58.22% and -7.65% from its 52-week high. The company has generated returns on investments over the last 12 months (1.60%).
Ares Management Corporation (ARES) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ares Management Corporation (ARES) is a “Overweight”. 15 analysts offering their recommendations for the stock have an average rating of 2.10, where 4 rate it as a Hold and 1 think it is a “Overweight”. 10 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 07/27/2023.The EPS is expected to shrink by -57.30% this year
Ares Management Corporation (ARES) Top Institutional Holders
The shares outstanding are 178.98M, and float is at 132.38M with Short Float at 3.64%.
Ares Management Corporation (ARES) Insider Activity
A total of 30 insider transactions have happened at Ares Management Corporation (ARES) in the last six months, with sales accounting for 21 and purchases happening 9 times. The most recent transaction is an insider sale by Sagati Aghili Naseem, the company’s General Counsel. SEC filings show that Sagati Aghili Naseem sold 11,531 shares of the company’s common stock on May 19 at a price of $83.07 per share for a total of $0.96 million. Following the sale, the insider now owns 0.24 million shares.
Ares Management Corporation disclosed in a document filed with the SEC on May 17 that Berry Ryan (Chief Mktg. & Strategy Officer) sold a total of 15,000 shares of the company’s common stock. The trade occurred on May 17 and was made at $82.95 per share for $1.24 million. Following the transaction, the insider now directly holds 0.51 million shares of the ARES stock.
Still, SEC filings show that on May 16, Ares Corporate Opportunities F (Director) disposed off 7,000,000 shares at an average price of $24.36 for $170.52 million. The insider now directly holds 7,326,090 shares of Ares Management Corporation (ARES).
Ares Management Corporation (ARES): Who are the competitors?
The company’s main competitors (and peers) include The Charles Schwab Corporation (SCHW) that is trading -20.21% down over the past 12 months and Brookfield Corporation (BN) that is -20.07% lower over the same period. T. Rowe Price Group Inc. (TROW) is -14.43% down on the 1-year trading charts.