Point72 Asset Management L.P. acquired a new position in shares of Ares Management Corp (NYSE:ARES) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 128,200 shares of the asset manager’s stock, valued at approximately $3,437,000. Point72 Asset Management L.P. owned about 0.11% of Ares Management at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Ares Management during the 2nd quarter valued at $51,000. AGF Investments LLC bought a new position in shares of Ares Management during the 2nd quarter valued at approximately $53,000. Quantamental Technologies LLC purchased a new stake in shares of Ares Management during the 2nd quarter worth approximately $71,000. Usca Ria LLC purchased a new stake in shares of Ares Management during the 3rd quarter worth approximately $80,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Ares Management during the 3rd quarter worth approximately $99,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.
Several equities analysts recently commented on the company. ValuEngine downgraded Ares Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America reissued a “buy” rating and issued a $33.00 target price on shares of Ares Management in a research report on Wednesday, September 25th. Zacks Investment Research lowered Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. BMO Capital Markets assumed coverage on Ares Management in a research report on Monday, October 7th. They set a “market perform” rating on the stock. Finally, TheStreet upgraded Ares Management from a “c+” rating to a “b” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Ares Management presently has a consensus rating of “Buy” and a consensus price target of $29.50.
NYSE ARES opened at $32.54 on Tuesday. The company’s 50 day moving average is $30.62 and its 200-day moving average is $28.43. Ares Management Corp has a 12-month low of $16.18 and a 12-month high of $33.34. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.80 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 1.64 and a beta of 1.50.
Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, October 31st. The asset manager reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Ares Management had a return on equity of 18.98% and a net margin of 7.76%. The business had revenue of $466.49 million during the quarter, compared to the consensus estimate of $312.15 million. During the same period last year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was up 93.7% on a year-over-year basis. Equities analysts expect that Ares Management Corp will post 1.52 EPS for the current year.
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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