Ares Management Corp (NYSE:ARES) CEO Sells $3,605,420.00 in Stock

Ares Management Corp (NYSE:ARES) CEO Michael J. Arougheti sold 127,400 shares of Ares Management stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.30, for a total value of $3,605,420.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Thursday, July 11th, Michael J. Arougheti sold 274,712 shares of Ares Management stock. The shares were sold at an average price of $27.67, for a total value of $7,601,281.04.
  • On Friday, July 5th, Michael J. Arougheti sold 31,266 shares of Ares Management stock. The shares were sold at an average price of $27.09, for a total value of $846,995.94.
  • On Monday, July 8th, Michael J. Arougheti sold 127,490 shares of Ares Management stock. The shares were sold at an average price of $27.00, for a total value 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 value 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 value 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 value of $984,160.62.
  • On Friday, June 21st, Michael J. Arougheti sold 48,299 shares of Ares Management stock. The shares were sold at an average price of $27.31, for a total value of $1,319,045.69.

Shares of NYSE:ARES opened at $28.43 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $2.90 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.45 and a beta of 1.38. Ares Management Corp has a 52 week low of $16.18 and a 52 week high of $28.63. The firm has a 50-day moving average price of $26.90.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, May 2nd. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analysts’ expectations of $228.42 million. During the same period last year, the business posted $0.39 earnings per share. As a group, analysts predict that Ares Management Corp will post 1.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 4.50%. Ares Management’s dividend payout ratio (DPR) is currently 90.14%.

Separately, Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.00.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Belpointe Asset Management LLC lifted its holdings in shares of Ares Management by 142.5% during the 4th quarter. Belpointe Asset Management LLC now owns 16,943 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 9,955 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ares Management by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 152,123 shares of the asset manager’s stock valued at $2,705,000 after buying an additional 11,572 shares during the last quarter. Barclays PLC boosted its stake in Ares Management by 105.2% during the 4th quarter. Barclays PLC now owns 10,258 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 5,258 shares during the period. Janney Montgomery Scott LLC boosted its stake in Ares Management by 25.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,973 shares of the asset manager’s stock valued at $1,206,000 after purchasing an additional 10,573 shares during the period. Finally, BlackRock Inc. acquired a new position in Ares Management during the 4th quarter valued at about $3,140,000. Institutional investors own 60.08% 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.

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