Ares Management Corp (NYSE: ARES) is 11.65% higher on its value in year-to-date trading and has touched a low of $73.22 and a high of $139.48 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 $134.72 in the last trading session, with the day’s loss setting it -1.94%.
Currently trading at $132.78, the stock is -0.69% and 4.94% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.89 million and changing -1.44% at the moment leaves the stock 22.14% off its SMA200. ARES registered 75.47% gain for a year compared to 6-month gain of 26.01%. The firm has a 50-day simple moving average (SMA 50) of $8.01 and a 200-day simple moving average (SMA200) of $16.46.
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The stock witnessed a -1.58% loss in the last 1 month and extending the period to 3 months gives it a 18.43%, and is -2.04% 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 1.80% over the week and 1.80% over the month.
Ares Management Corp (ARES) has around 2850 employees, a market worth around $25.68B and $3.97B in sales. Current P/E ratio is 54.59 and Fwd P/E is 21.70. Profit margin for the company is 11.54%. Distance from 52-week low is 81.34% and -4.80% from its 52-week high. The company has generated returns on investments over the last 12 months (2.66%).
Ares Management Corp quarterly earnings per share for the current quarter are estimated at $0.94 with sales reaching $822.84M over the same period.The EPS is expected to grow by 26.18% this year, but quarterly earnings will post 8.10% year-over-year. Quarterly sales are estimated to grow 17.90% in year-over-year returns.
727 institutions hold shares in Ares Management Corp (ARES), with institutional investors hold 93.25% of the company’s shares. The shares outstanding are 187.07M, and float is at 161.41M with Short Float at 1.49%. Institutions hold 77.63% of the Float.
The top institutional shareholder in the company is Wellington Management Group, LLP with over 18.77 million shares valued at $1.81 billion. The investor’s holdings represent 10.35% of the ARES Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 15.49 million shares valued at $1.49 billion to account for 8.54% of the shares outstanding. The other top investors are Sumitomo Mitsui Financial Group, Inc. which holds 13.36 million shares representing 7.37% and valued at over $1.29 billion, while Blackrock Inc. holds 6.28% of the shares totaling 11.39 million with a market value of $1.1 billion.
Ares Management Corp (ARES) Insider Activity
The most recent transaction is an insider sale by RESSLER ANTONY P, the company’s Co-Founder & Exec. Chairman. SEC filings show that RESSLER ANTONY P sold 3,000,000 shares of the company’s common stock on Mar 07 ’24 at a price of $130.30 per share for a total of $390.9 million. Following the sale, the insider now owns 0.0 shares.
Ares Management Corp disclosed in a document filed with the SEC on Feb 16 ’24 that deVeer R. Kipp (Head of Credit Group) sold a total of 80,637 shares of the company’s common stock. The trade occurred on Feb 16 ’24 and was made at $135.25 per share for $10.91 million. Following the transaction, the insider now directly holds 1.12 million shares of the ARES stock.
Still, SEC filings show that on Feb 15 ’24, deVeer R. Kipp (Head of Credit Group) disposed off 48,416 shares at an average price of $135.39 for $6.56 million. The insider now directly holds 1,197,313 shares of Ares Management Corp (ARES).
