Ares Management Corp (NYSE:ARES) CEO Michael J. Arougheti Sells 127,400 Shares

Ares Management Corp (NYSE:ARES) CEO Michael J. Arougheti sold 127,400 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.30, for a total transaction of $3,605,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction 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 transaction 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 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.

Shares of Ares Management stock opened at $28.43 on Friday. The firm has a market cap of $2.90 billion, a PE ratio of 20.02, a P/E/G ratio of 1.45 and a beta of 1.38. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average price is $26.90. Ares Management Corp has a 12-month low of $16.18 and a 12-month high of $28.63.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, May 2nd. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $224.66 million for the quarter, compared to analyst estimates 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. On average, equities analysts predict that Ares Management Corp will post 1.53 EPS 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 given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.50%. The ex-dividend date was Thursday, June 13th. Ares Management’s payout ratio is presently 90.14%.

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 report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $25.00.

Institutional investors and hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC increased its position in Ares Management by 142.5% in 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 increased its position in Ares Management by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 152,123 shares of the asset manager’s stock valued at $2,705,000 after acquiring an additional 11,572 shares in the last quarter. Barclays PLC increased its position in Ares Management by 105.2% in the 4th quarter. Barclays PLC now owns 10,258 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 5,258 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Ares Management by 25.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,973 shares of the asset manager’s stock valued at $1,206,000 after acquiring an additional 10,573 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in Ares Management in the 4th quarter valued at about $3,140,000. Hedge funds and other 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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