Insider Selling: Ares Management Corp (NYSE:ARES) CEO Sells 274,712 Shares of Stock

Ares Management Corp (NYSE:ARES) CEO Michael J. Arougheti sold 274,712 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $27.67, for a total transaction of $7,601,281.04. The sale was disclosed in a document filed with the SEC, which is available at this link.

Michael J. Arougheti also recently made the following trade(s):

  • On Friday, July 5th, Michael J. Arougheti sold 31,266 shares of Ares Management stock. The stock was sold at an average price of $27.09, for a total transaction of $846,995.94.
  • On Monday, July 8th, Michael J. Arougheti sold 127,490 shares of Ares Management stock. The stock was sold at an average price of $27.00, for a total transaction of $3,442,230.00.
  • On Tuesday, July 2nd, Michael J. Arougheti sold 253,922 shares of Ares Management stock. The stock was sold at an average price of $26.52, for a total transaction of $6,734,011.44.
  • On Thursday, June 27th, Michael J. Arougheti sold 78,801 shares of Ares Management stock. The stock was sold at an average price of $25.96, for a total transaction of $2,045,673.96.
  • On Monday, June 24th, Michael J. Arougheti sold 36,209 shares of Ares Management stock. The stock was sold at an average price of $27.18, for a total transaction of $984,160.62.
  • On Friday, June 21st, Michael J. Arougheti sold 48,299 shares of Ares Management stock. The stock was sold at an average price of $27.31, for a total transaction of $1,319,045.69.

NYSE ARES opened at $28.57 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. Ares Management Corp has a 1 year low of $16.18 and a 1 year high of $28.60. The firm has a market capitalization of $2.89 billion, a P/E ratio of 20.12, a PEG ratio of 1.49 and a beta of 1.38. The company has a fifty day moving average of $26.67.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Ares Management had a net margin of 5.22% and a return on equity of 25.86%. The company had revenue of $224.66 million during the quarter, compared to analyst estimates of $228.42 million. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, sell-side analysts anticipate that Ares Management Corp will post 1.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.28 annualized dividend and a yield of 4.48%. Ares Management’s dividend payout ratio is presently 90.14%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Ares Management in the first quarter valued at about $29,366,000. Brown Advisory Inc. raised its holdings in shares of Ares Management by 126.2% in the fourth quarter. Brown Advisory Inc. now owns 1,684,985 shares of the asset manager’s stock valued at $29,960,000 after buying an additional 940,186 shares during the last quarter. FMR LLC raised its holdings in shares of Ares Management by 16.5% in the first quarter. FMR LLC now owns 2,808,368 shares of the asset manager’s stock valued at $65,182,000 after buying an additional 396,792 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Ares Management by 14.3% in the fourth quarter. American Century Companies Inc. now owns 2,224,981 shares of the asset manager’s stock valued at $39,560,000 after buying an additional 278,783 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ares Management by 848.4% in the fourth quarter. Bank of New York Mellon Corp now owns 288,308 shares of the asset manager’s stock valued at $5,126,000 after buying an additional 257,910 shares during the last quarter. Institutional investors own 60.00% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Monday, April 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.

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.

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Insider Buying and Selling by Quarter for Ares Management (NYSE:ARES)

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