Ares Management (NYSE:ARES – Get Free Report) had its price objective lifted by research analysts at Royal Bank of Canada from $120.00 to $135.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 4.77% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Ares Management from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Monday, January 22nd. Jefferies Financial Group downgraded shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price objective on the stock. in a research report on Tuesday, January 9th. Morgan Stanley increased their price objective on shares of Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Finally, Barclays cut their price objective on shares of Ares Management from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.25.
Ares Management Price Performance
Insider Activity at Ares Management
In related news, CEO Michael J. Arougheti sold 150,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.17, for a total value of $15,775,500.00. Following the completion of the transaction, the chief executive officer now owns 825,000 shares in the company, valued at approximately $86,765,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 47.34% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ares Management
Several large investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. lifted its stake in Ares Management by 5.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,694 shares of the asset manager’s stock valued at $320,000 after buying an additional 136 shares in the last quarter. Ieq Capital LLC acquired a new stake in Ares Management in the fourth quarter worth about $247,000. USA Financial Formulas acquired a new stake in Ares Management in the fourth quarter worth about $349,000. Dimensional Fund Advisors LP grew its position in shares of Ares Management by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 385,222 shares of the asset manager’s stock worth $45,812,000 after buying an additional 12,271 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in shares of Ares Management during the 4th quarter worth about $218,000. Institutional investors own 50.03% of the company’s stock.
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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