Short Interest in Ares Management Co. (NYSE:ARES) Increases By 16.0%

Ares Management Co. (NYSE:ARES) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,770,000 shares, a growth of 16.0% from the September 30th total of 3,250,000 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARES shares. Barclays increased their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price target on Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Morgan Stanley upped their price objective on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. TD Cowen raised their target price on shares of Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.18.

Ares Management Stock Performance

NYSE ARES opened at $171.03 on Tuesday. Ares Management has a fifty-two week low of $96.00 and a fifty-two week high of $171.78. The stock has a market cap of $52.99 billion, a PE ratio of 76.70, a PEG ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s fifty day moving average price is $154.08 and its two-hundred day moving average price is $144.52.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities analysts expect that Ares Management will post 4.16 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the transaction, the insider now owns 446,702 shares of the company’s stock, valued at approximately $63,485,288.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the sale, the chairman now owns 222,828 shares of the company’s stock, valued at $32,459,354.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Berry sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the transaction, the insider now owns 446,702 shares in the company, valued at approximately $63,485,288.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,640 shares of company stock worth $91,378,848 over the last three months. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ares Management

Several hedge funds have recently added to or reduced their stakes in ARES. J.Safra Asset Management Corp raised its stake in shares of Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank bought a new position in Ares Management during the 3rd quarter worth $39,000. West Oak Capital LLC lifted its holdings in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the period. Key Financial Inc acquired a new position in Ares Management during the 2nd quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ares Management in the 1st quarter valued at about $54,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Company 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.