Ares Management LP Unit (ARES) Short Interest Up 81.3% in October

Ares Management LP Unit (NYSE:ARES) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,287,913 shares, an increase of 81.3% from the September 28th total of 710,426 shares. Based on an average daily volume of 660,192 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.4% of the company’s stock are short sold.

NYSE:ARES opened at $19.41 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.04. Ares Management LP Unit has a one year low of $18.00 and a one year high of $25.95. The stock has a market capitalization of $1.92 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25.

Ares Management LP Unit (NYSE:ARES) last released its quarterly earnings results on Thursday, August 2nd. The asset manager reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.06). Ares Management LP Unit had a return on equity of 30.98% and a net margin of 8.70%. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $320.11 million. During the same quarter last year, the firm posted $0.69 EPS. The company’s revenue was down 63.1% compared to the same quarter last year. As a group, equities research analysts predict that Ares Management LP Unit will post 1.49 earnings per share for the current year.

In related news, CFO Michael R. Mcferran acquired 7,500 shares of Ares Management LP Unit stock in a transaction on Monday, August 13th. The shares were bought at an average price of $21.21 per share, for a total transaction of $159,075.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several large investors have recently added to or reduced their stakes in ARES. Cubist Systematic Strategies LLC lifted its stake in shares of Ares Management LP Unit by 785.5% in the second quarter. Cubist Systematic Strategies LLC now owns 5,313 shares of the asset manager’s stock worth $110,000 after acquiring an additional 4,713 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Ares Management LP Unit in the third quarter valued at about $112,000. Cowen Prime Services LLC bought a new stake in Ares Management LP Unit in the third quarter valued at about $313,000. Dimensional Fund Advisors LP bought a new stake in Ares Management LP Unit in the second quarter valued at about $328,000. Finally, BlueMountain Capital Management LLC bought a new stake in Ares Management LP Unit in the second quarter valued at about $451,000. Institutional investors and hedge funds own 40.18% of the company’s stock.

A number of brokerages have commented on ARES. Zacks Investment Research cut Ares Management LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. JPMorgan Chase & Co. restated a “$21.50” rating and set a $23.00 price objective on shares of Ares Management LP Unit in a research note on Monday, July 23rd. Bank of America boosted their price objective on Ares Management LP Unit from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. ValuEngine upgraded Ares Management LP Unit from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Finally, Morgan Stanley boosted their price objective on Ares Management LP Unit from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Ares Management LP Unit has a consensus rating of “Buy” and an average target price of $27.00.

About Ares Management LP Unit

Ares Management, L.P. 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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