Ares Management (NYSE:ARES) Given New $187.00 Price Target at TD Cowen

Ares Management (NYSE:ARES - Get Free Report) had its target price hoisted by analysts at TD Cowen from $184.00 to $187.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the asset manager's stock. TD Cowen's price objective would indicate a potential upside of 17.11% from the company's current price.

A number of other analysts have also issued reports on the stock. UBS Group lifted their price target 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. Wells Fargo & Company upped their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an "equal weight" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on Ares Management from $141.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on Ares Management from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Finally, Barclays lifted their target price on Ares Management from $155.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.18.

Ares Management Stock Down 1.4 %

Ares Management stock traded down $2.19 during midday trading on Monday, hitting $159.68. 1,416,492 shares of the company were exchanged, compared to its average volume of 1,152,800. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management has a fifty-two week low of $101.44 and a fifty-two week high of $171.78. The company's fifty day moving average price is $155.87 and its 200-day moving average price is $145.55. The company has a market cap of $49.98 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, research analysts predict that Ares Management will post 4.11 EPS for the current fiscal year.

Insider Transactions at Ares Management

In other Ares Management news, insider Ryan Berry sold 40,000 shares of the business's stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the transaction, the insider now directly owns 304,202 shares of the company's stock, valued at $51,102,893.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ares Management news, insider Ryan Berry sold 40,000 shares of Ares Management stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the sale, the insider now owns 304,202 shares of the company's stock, valued at $51,102,893.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 27,172 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the transaction, the chairman now owns 222,828 shares of the company's stock, valued at $32,459,354.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 622,640 shares of company stock worth $91,378,848. Insiders own 1.20% of the company's stock.

Institutional Trading of Ares Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. acquired a new stake in shares of Ares Management in the third quarter valued at $232,000. Atria Investments Inc lifted its holdings in Ares Management by 39.9% in the 3rd quarter. Atria Investments Inc now owns 7,563 shares of the asset manager's stock valued at $1,179,000 after acquiring an additional 2,158 shares during the last quarter. Bridges Investment Management Inc. boosted its position in shares of Ares Management by 9.5% during the 3rd quarter. Bridges Investment Management Inc. now owns 2,246 shares of the asset manager's stock valued at $350,000 after purchasing an additional 195 shares in the last quarter. Klingman & Associates LLC acquired a new position in shares of Ares Management in the 3rd quarter worth approximately $810,000. Finally, Assetmark Inc. raised its holdings in shares of Ares Management by 65.7% in the 3rd quarter. Assetmark Inc. now owns 41,509 shares of the asset manager's stock worth $6,469,000 after purchasing an additional 16,451 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

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.