Ares Management (ARES) Reaches New 52-Week High at $26.41

Shares of Ares Management Corp (NYSE:ARES) reached a new 52-week high during trading on Thursday . The stock traded as high as $26.41 and last traded at $25.99, with a volume of 44618 shares changing hands. The stock had previously closed at $25.82.

Several brokerages recently weighed in on ARES. Zacks Investment Research upgraded shares of Ares Management from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, April 16th. ValuEngine upgraded shares of Ares Management from a “hold” rating to a “buy” rating in a report on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ares Management presently has a consensus rating of “Buy” and an average target price of $25.00.

The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 1.41 and a beta of 1.60. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ 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 business 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 earnings per share. Equities research analysts forecast that Ares Management Corp will post 1.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.32 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.28 annualized dividend and a yield of 4.94%. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ffcm LLC raised its holdings in Ares Management by 50.0% in the fourth quarter. Ffcm LLC now owns 1,476 shares of the asset manager’s stock worth $26,000 after purchasing an additional 492 shares during the period. Stelac Advisory Services LLC raised its holdings in shares of Ares Management by 9.5% during the fourth quarter. Stelac Advisory Services LLC now owns 5,952 shares of the asset manager’s stock worth $106,000 after acquiring an additional 515 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Ares Management by 2.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 41,400 shares of the asset manager’s stock worth $736,000 after acquiring an additional 1,000 shares during the period. Lido Advisors LLC raised its holdings in shares of Ares Management by 8.1% during the fourth quarter. Lido Advisors LLC now owns 17,772 shares of the asset manager’s stock worth $315,000 after acquiring an additional 1,326 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Ares Management by 13.6% during the fourth quarter. Two Sigma Advisers LP now owns 11,700 shares of the asset manager’s stock worth $208,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 59.08% of the company’s stock.

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About Ares Management (NYSE:ARES)

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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