Insider Selling: Ares Management Corp (NYSE:ARES) CEO Sells $7,601,281.04 in Stock

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

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 value 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 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 stock was sold at an average price of $27.31, for a total value of $1,319,045.69.

Ares Management stock opened at $28.57 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $2.89 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.49 and a beta of 1.38. Ares Management Corp has a 1-year low of $16.18 and a 1-year high of $28.60. The stock has a fifty day simple moving average of $26.67.

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). The firm had revenue of $224.66 million during the quarter, compared to analysts’ expectations of $228.42 million. Ares Management had a return on equity of 25.86% and a net margin of 5.22%. During the same quarter last year, the business earned $0.39 EPS. As a group, equities research analysts forecast that Ares Management Corp will post 1.53 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.32 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 4.48%. Ares Management’s dividend payout ratio (DPR) is 90.14%.

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

Hedge funds have recently modified their holdings of the stock. Cordasco Financial Network purchased a new position in Ares Management in the 1st quarter worth $70,000. Marshall Wace LLP purchased a new position in Ares Management in the 1st quarter worth $145,000. Marshall Wace North America L.P. purchased a new position in Ares Management in the 1st quarter worth $175,000. Alpine Global Management LLC purchased a new position in Ares Management in the 2nd quarter worth $202,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Ares Management in the 2nd quarter worth $254,000. Institutional investors own 60.00% 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.

Read More: Understanding the two types of arbitrage

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

Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.