Ares Management (NYSE:ARES) Price Target Lowered to $127.00 at Jefferies Financial Group

Ares Management (NYSE:ARES) had its target price cut by research analysts at Jefferies Financial Group from $131.00 to $127.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. Jefferies Financial Group’s target price indicates a potential downside of 10.84% from the stock’s previous close.

A number of other equities research analysts have also recently commented on ARES. Wells Fargo & Company raised their target price on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. UBS Group upped their price target on shares of Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. TD Cowen began coverage on Ares Management in a report on Tuesday. They issued a “buy” rating and a $154.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Finally, Barclays reduced their price target on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ares Management has a consensus rating of “Hold” and an average price target of $128.46.

Ares Management Stock Performance

Shares of ARES stock traded up $3.77 on Thursday, hitting $142.44. The company had a trading volume of 1,467,546 shares, compared to its average volume of 1,044,332. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. Ares Management has a twelve month low of $80.07 and a twelve month high of $143.13. The company has a 50-day moving average price of $133.47 and a 200-day moving average price of $122.32. The firm has a market cap of $44.10 billion, a P/E ratio of 63.92, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17.

Ares Management (NYSE:ARES) last posted its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). The firm had revenue of $707.36 million during the quarter, compared to analyst estimates of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.63%. During the same quarter in the prior year, the firm earned $0.71 earnings per share. As a group, equities research analysts predict that Ares Management will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Ares Management

In related news, Chairman Antony P. Ressler sold 38,915 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $132.46, for a total transaction of $5,154,680.90. Following the sale, the chairman now directly owns 96,085 shares in the company, valued at $12,727,419.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Antony P. Ressler sold 22,103 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $130.86, for a total transaction of $2,892,398.58. Following the sale, the chairman now owns 73,982 shares of the company’s stock, valued at $9,681,284.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Antony P. Ressler sold 38,915 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $132.46, for a total value of $5,154,680.90. Following the completion of the transaction, the chairman now owns 96,085 shares of the company’s stock, valued at $12,727,419.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,494,440 shares of company stock valued at $199,049,946. 41.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ares Management

Hedge funds and other institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP lifted its stake in shares of Ares Management by 24.5% in the fourth quarter. Artemis Investment Management LLP now owns 149,920 shares of the asset manager’s stock worth $17,829,000 after acquiring an additional 29,457 shares in the last quarter. Triasima Portfolio Management inc. lifted its stake in shares of Ares Management by 31.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 66,950 shares of the asset manager’s stock worth $7,962,000 after acquiring an additional 16,010 shares during the period. Nordea Investment Management AB raised its stake in shares of Ares Management by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock worth $1,109,000 after buying an additional 202 shares in the last quarter. Genesee Capital Advisors LLC acquired a new position in shares of Ares Management in the 4th quarter worth approximately $1,268,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ares Management by 178.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,339 shares of the asset manager’s stock valued at $3,846,000 after acquiring an additional 20,730 shares during the last quarter. 50.03% of the stock is 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.