Mackay Shields LLC Makes New Investment in Ares Management Corp (NYSE:ARES)

Mackay Shields LLC purchased a new position in Ares Management Corp (NYSE:ARES) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 84,500 shares of the asset manager’s stock, valued at approximately $2,613,000. Mackay Shields LLC owned approximately 0.06% of Ares Management as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ARES. Stelac Advisory Services LLC lifted its position in shares of Ares Management by 3.9% during the 4th quarter. Stelac Advisory Services LLC now owns 13,131 shares of the asset manager’s stock worth $469,000 after purchasing an additional 490 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Ares Management by 2.0% in the fourth quarter. Stifel Financial Corp now owns 25,629 shares of the asset manager’s stock valued at $912,000 after buying an additional 510 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Ares Management by 7.9% in the first quarter. Integrated Advisors Network LLC now owns 8,429 shares of the asset manager’s stock valued at $261,000 after buying an additional 615 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of Ares Management by 3.4% in the first quarter. Beacon Investment Advisory Services Inc. now owns 20,576 shares of the asset manager’s stock valued at $636,000 after buying an additional 680 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of Ares Management by 6.1% in the fourth quarter. Advisor Group Inc. now owns 12,413 shares of the asset manager’s stock valued at $444,000 after buying an additional 711 shares during the last quarter. Institutional investors and hedge funds own 59.03% of the company’s stock.

A number of brokerages have recently commented on ARES. Oppenheimer reaffirmed a “hold” rating on shares of Ares Management in a report on Wednesday, May 6th. BMO Capital Markets upped their target price on shares of Ares Management from $30.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Morgan Stanley upped their target price on shares of Ares Management from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Zacks Investment Research lowered shares of Ares Management from a “buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Barclays boosted their price target on shares of Ares Management from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $39.45.

In related news, CEO Michael J. Arougheti sold 45,262 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $35.07, for a total transaction of $1,587,338.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 8,274 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $31.81, for a total transaction of $263,195.94. The disclosure for this sale can be found here. Insiders have sold 1,232,425 shares of company stock worth $43,232,746 over the last 90 days. 151.62% of the stock is currently owned by company insiders.

Shares of ARES opened at $35.06 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.75. The firm’s 50-day moving average is $33.03 and its two-hundred day moving average is $33.97. Ares Management Corp has a twelve month low of $20.20 and a twelve month high of $41.88. The firm has a market capitalization of $4.62 billion, a P/E ratio of 19.29, a PEG ratio of 4.02 and a beta of 1.27.

Ares Management (NYSE:ARES) last issued its earnings results on Wednesday, May 6th. The asset manager reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. The company had revenue of $411.80 million for the quarter, compared to analyst estimates of $369.82 million. During the same period in the prior year, the business posted $0.35 earnings per share. Analysts predict that Ares Management Corp will post 1.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.60 annualized dividend and a yield of 4.56%. Ares Management’s payout ratio is currently 95.81%.

Ares Management 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.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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