Short Interest in Ares Management Co. (NYSE:ARES) Rises By 7.5%

Ares Management Co. (NYSE:ARES - Get Free Report) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,580,000 shares, an increase of 7.5% from the November 30th total of 3,330,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is presently 2.8 days.

Ares Management Price Performance

ARES traded down $1.99 during trading on Wednesday, hitting $177.03. The company's stock had a trading volume of 591,579 shares, compared to its average volume of 1,150,383. The firm has a market capitalization of $55.42 billion, a price-to-earnings ratio of 81.58, a P/E/G ratio of 1.99 and a beta of 1.19. Ares Management has a twelve month low of $112.83 and a twelve month high of $185.06. The business's fifty day simple moving average is $173.95 and its 200 day simple moving average is $156.42. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter last year, the company earned $0.83 EPS. On average, equities research analysts forecast that Ares Management will post 4.06 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.10%. Ares Management's dividend payout ratio (DPR) is presently 171.43%.

Insiders Place Their Bets

In related news, insider R. Kipp Deveer sold 115,838 shares of Ares Management stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the completion of the sale, the insider now owns 1,259,162 shares in the company, valued at $223,916,778.46. This trade represents a 8.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan Berry sold 14,357 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the transaction, the insider now directly owns 233,214 shares in the company, valued at approximately $42,015,834.24. This trade represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 634,167 shares of company stock valued at $109,917,647 in the last quarter. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ares Management

Several institutional investors have recently bought and sold shares of ARES. MetLife Investment Management LLC lifted its position in shares of Ares Management by 0.7% in the third quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager's stock valued at $1,798,000 after acquiring an additional 76 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Ares Management by 1.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager's stock valued at $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Ares Management by 3.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager's stock worth $399,000 after purchasing an additional 95 shares during the last quarter. Morse Asset Management Inc grew its holdings in shares of Ares Management by 0.7% during the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager's stock worth $2,187,000 after buying an additional 95 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Ares Management by 21.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager's stock valued at $87,000 after buying an additional 97 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARES. TD Cowen increased their target price on Ares Management from $184.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Ares Management from $146.00 to $150.00 and gave the company a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of Ares Management from $176.00 to $174.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Barclays raised their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Finally, UBS Group boosted their price objective on shares of Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Ares Management has a consensus rating of "Moderate Buy" and a consensus price target of $172.33.

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.