Zacks Investment Research cut shares of Ares Management L.P. (NYSE:ARES) from a buy rating to a hold rating in a report released on Thursday, July 20th.
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
A number of other equities research analysts also recently commented on ARES. BidaskClub upgraded shares of Ares Management L.P. from a strong sell rating to a sell rating in a report on Wednesday, June 28th. Keefe, Bruyette & Woods restated an outperform rating on shares of Ares Management L.P. in a report on Tuesday, July 4th. TheStreet raised shares of Ares Management L.P. from a c rating to a b- rating in a research report on Wednesday, April 26th. Royal Bank Of Canada initiated coverage on shares of Ares Management L.P. in a research report on Thursday, June 29th. They set an outperform rating and a $21.00 price target on the stock. Finally, Credit Suisse Group raised shares of Ares Management L.P. from a neutral rating to an outperform rating in a research report on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $21.57.
Ares Management L.P. (NYSE ARES) traded up 1.19% during trading on Thursday, hitting $17.90. The stock had a trading volume of 32,490 shares. The firm has a 50 day moving average of $18.26 and a 200-day moving average of $18.90. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 23.96 and a beta of 1.25. Ares Management L.P. has a 12 month low of $14.75 and a 12 month high of $23.25.
Ares Management L.P. (NYSE:ARES) last issued its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $554 million during the quarter, compared to the consensus estimate of $442.10 million. Ares Management L.P. had a net margin of 5.86% and a return on equity of 40.94%. The company’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities analysts predict that Ares Management L.P. will post $1.84 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.31 dividend. This is an increase from Ares Management L.P.’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, August 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.93%. Ares Management L.P.’s dividend payout ratio is currently 71.23%.
A number of institutional investors have recently added to or reduced their stakes in ARES. Royal Bank of Canada increased its position in Ares Management L.P. by 359.8% in the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after buying an additional 7,700 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Ares Management L.P. during the second quarter valued at approximately $212,000. Goldman Sachs Group Inc. increased its position in shares of Ares Management L.P. by 37.9% in the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after buying an additional 3,982 shares during the period. Balter Liquid Alternatives LLC bought a new position in shares of Ares Management L.P. during the second quarter valued at approximately $264,000. Finally, Clinton Group Inc. bought a new position in shares of Ares Management L.P. during the second quarter valued at approximately $264,000. Hedge funds and other institutional investors own 14.36% of the company’s stock.
Ares Management L.P. Company Profile
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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