Ares Management (NYSE:ARES) Sees Large Volume Increase

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Ares Management Corp (NYSE:ARES) saw strong trading volume on Wednesday . 2,336,516 shares traded hands during mid-day trading, an increase of 216% from the previous session’s volume of 739,420 shares.The stock last traded at $33.15 and had previously closed at $32.86.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on Ares Management in a research report on Tuesday, November 12th. They issued an “outperform” rating and a $20.00 price target for the company. Barclays set a $33.00 price target on Ares Management and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Ares Management from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group lifted their price target on Ares Management from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Morgan Stanley lifted their price target on Ares Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $30.60.

The stock has a 50-day simple moving average of $29.21 and a two-hundred day simple moving average of $28.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $3.77 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.47.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.34 earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $312.15 million. During the same period last year, the firm posted $0.30 EPS. Ares Management’s quarterly revenue was up 93.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ares Management Corp will post 1.52 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA purchased a new position in Ares Management in the 2nd quarter worth about $51,000. AGF Investments LLC bought a new stake in shares of Ares Management during the 2nd quarter valued at about $53,000. Quantamental Technologies LLC bought a new stake in shares of Ares Management during the 2nd quarter valued at about $71,000. Usca Ria LLC bought a new stake in shares of Ares Management during the 3rd quarter valued at about $80,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Ares Management during the 3rd quarter valued at about $99,000. 60.53% of the stock is owned by institutional investors and hedge funds.

About Ares Management (NYSE:ARES)

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.

Further Reading: How to Invest in Growth Stocks

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