Ares Management (NYSE:ARES) Price Target Lowered to $201.00 at Bank of America

Ares Management (NYSE:ARES) had its price objective lowered by investment analysts at Bank of America from $221.00 to $201.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Bank of America‘s target price would indicate a potential upside of 65.63% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Barclays decreased their price objective on Ares Management from $224.00 to $217.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $166.00 to $202.00 in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on shares of Ares Management from $215.00 to $187.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group reduced their price objective on Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a research report on Thursday. Finally, StockNews.com lowered Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.38.

Ares Management Stock Performance

NYSE:ARES opened at $121.35 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a fifty-two week low of $119.00 and a fifty-two week high of $200.49. The business has a 50 day moving average price of $168.18 and a 200-day moving average price of $170.31. The firm has a market cap of $38.28 billion, a PE ratio of 59.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. Equities research analysts predict that Ares Management will post 5.28 earnings per share for the current year.

Insider Transactions at Ares Management

In related news, insider R. Kipp Deveer sold 78,933 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares of the company’s stock, valued at approximately $218,523,000. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 69,809 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the completion of the transaction, the chairman now directly owns 30,191 shares in the company, valued at $4,861,052.91. This trade represents a 69.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,113 shares of company stock valued at $54,409,915 over the last quarter. 41.89% of the stock is currently owned by company insiders.

Institutional Trading of Ares Management

Several hedge funds and other institutional investors have recently bought and sold shares of ARES. Versant Capital Management Inc increased its position in Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 65 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Ares Management in the 4th quarter worth $29,000. Johnson Financial Group Inc. grew its position in shares of Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Ares Management in the fourth quarter valued at about $33,000. Finally, Point72 DIFC Ltd purchased a new stake in Ares Management in the third quarter worth about $36,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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.