Overbrook Management Corp Buys 39,754 Shares of Ares Management Co. (NYSE:ARES)

Overbrook Management Corp increased its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 42.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 133,995 shares of the asset manager's stock after acquiring an additional 39,754 shares during the period. Ares Management makes up approximately 4.8% of Overbrook Management Corp's holdings, making the stock its 5th largest holding. Overbrook Management Corp's holdings in Ares Management were worth $20,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eastern Bank purchased a new stake in Ares Management during the 3rd quarter worth approximately $39,000. West Oak Capital LLC increased its holdings in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager's stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc purchased a new stake in Ares Management during the 2nd quarter worth approximately $53,000. EntryPoint Capital LLC purchased a new stake in Ares Management during the 1st quarter worth approximately $54,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager's stock worth $60,000 after purchasing an additional 201 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of research analyst reports. TD Cowen boosted their price target on Ares Management from $184.00 to $187.00 and gave the company a "buy" rating in a report on Monday, November 4th. Redburn Atlantic initiated coverage on Ares Management in a report on Tuesday, August 27th. They issued a "neutral" rating and a $140.00 price target for the company. Barclays boosted their price target on Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Royal Bank of Canada boosted their price target on Ares Management from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on Ares Management from $176.00 to $174.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.36.

Insider Activity

In other news, insider Ryan Berry sold 1,671 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the sale, the insider now directly owns 253,214 shares of the company's stock, valued at $44,312,450. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bennett Rosenthal sold 13,533 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $145.12, for a total value of $1,963,908.96. Following the sale, the chairman now directly owns 136,467 shares in the company, valued at $19,804,091.04. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 590,579 shares of company stock worth $89,737,173 over the last 90 days. 41.89% of the stock is currently owned by company insiders.

Ares Management Price Performance

Shares of ARES opened at $171.89 on Thursday. The company has a market cap of $53.81 billion, a P/E ratio of 79.21, a PEG ratio of 1.82 and a beta of 1.20. The stock has a fifty day moving average price of $161.90 and a 200 day moving average price of $148.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 12 month low of $105.89 and a 12 month high of $175.74.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, research analysts forecast that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.16%. Ares Management's dividend payout ratio (DPR) is 171.43%.

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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