Tidal Investments LLC Acquires 12,018 Shares of Ares Management Co. (NYSE:ARES)

Tidal Investments LLC raised its holdings in shares of Ares Management Co. (NYSE:ARES) by 280.1% during the first quarter, HoldingsChannel reports. The fund owned 16,309 shares of the asset manager’s stock after purchasing an additional 12,018 shares during the quarter. Tidal Investments LLC’s holdings in Ares Management were worth $2,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Ares Management by 86.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,536 shares of the asset manager’s stock worth $470,000 after buying an additional 1,639 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Ares Management by 19.3% in the 1st quarter. Janus Henderson Group PLC now owns 834,615 shares of the asset manager’s stock worth $110,986,000 after purchasing an additional 134,842 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in Ares Management by 1.5% in the 1st quarter. Kennedy Capital Management LLC now owns 97,695 shares of the asset manager’s stock valued at $12,991,000 after purchasing an additional 1,443 shares during the period. SVB Wealth LLC purchased a new position in shares of Ares Management during the 1st quarter valued at $6,750,000. Finally, Morse Asset Management Inc raised its position in shares of Ares Management by 9.9% in the first quarter. Morse Asset Management Inc now owns 13,550 shares of the asset manager’s stock worth $1,802,000 after buying an additional 1,225 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARES shares. UBS Group decreased their target price on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. Barclays upped their target price on shares of Ares Management from $150.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group lowered their price target on Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Finally, JMP Securities reiterated a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ares Management has an average rating of “Hold” and an average target price of $134.50.

Ares Management Trading Down 4.9 %

Shares of Ares Management stock traded down $7.28 on Friday, hitting $141.88. The stock had a trading volume of 239,497 shares, compared to its average volume of 1,146,315. The stock’s 50-day simple moving average is $140.20 and its two-hundred day simple moving average is $135.10. Ares Management Co. has a one year low of $96.00 and a one year high of $155.53. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The stock has a market cap of $43.96 billion, a price-to-earnings ratio of 66.93, a PEG ratio of 1.32 and a beta of 1.22.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, sell-side analysts predict that Ares Management Co. will post 4.23 EPS for the current year.

Insider Buying and Selling

In other news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now directly owns 1,075,000 shares in the company, valued at approximately $161,475,750. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Bennett Rosenthal sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $140.41, for a total value of $14,041,000.00. Following the completion of the transaction, the chairman now owns 150,000 shares in the company, valued at approximately $21,061,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares in the company, valued at $161,475,750. The disclosure for this sale can be found here. Insiders have sold 702,930 shares of company stock valued at $97,948,044 over the last ninety days. 1.20% of the stock is owned by insiders.

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.