Ares Management Corporation (NYSE:ARES) finished Friday with a subtraction of -$2.03 to close at $99.47, a downside of -2.00 percent. An average of 814,760 shares of common stock have been traded in the last five days. There was a fall of -$0.77 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 864,190 shares traded, while the 50-day average volume stands at 1,012,060.
ARES stock has decreased by -1.61% in the last month. The company shares reached their 1-month lowest point of $96.14 on 07/12/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $58.34 and a high of $103.41 in 52 weeks. It has reached a new high 32 times so far this year and achieved 45.34% or $31.03 in price. In spite of this, the price is down -3.81% from the 52-week high.
Insider Transactions
ARES stock investors should be aware that Ares Management Corporation (ARES) stock had its last reported insider trading activity 4 days ago on Aug 08. In this transaction, the insider spent $20,025,557. 10% Owner, ARES MANAGEMENT LLC, disposed of 6,885,415 shares at a price of $16.79 on Jul 03. The insider now owns more than $115,571,691 worth of shares. Prior to that, Co-Founder, CEO and President Arougheti Michael J went on to Sale 36,085 shares at $95.09 each on Jun 29. An amount of $3,431,323 was transacted.
Valuation Metrics
Ares Management Corporation (ARES) has a trailing price-to-earnings (P/E) ratio of 88.50. The stock’s beta is 1.33. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.39, the price-to-book (PB) ratio at 10.40.
Financial Health
Further, the company has a long term debt to equity ratio of 7.90 and a total debt to equity ratio of 7.90 for the quarter ending June 29. Its gross profit as reported stood at $306.36 million compared to revenue of $3.06 billion.
Earnings Surprise
For the three-month period that ended June 29, Ares Management Corporation had $2.3 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $144.51 million in the quarter, while revenues were grew 68.27%. The analyst consensus anticipated Ares Management Corporation’s latest quarter earnings to come in at $0.85 per share, but it turned out to be $0.9, a 5.90% surprise. For the quarter, EBITDA amounted to $255.55 million. At the end of the quarter ending June 29, Ares Management Corporation’s stock balance sheet showed total debt was $14.03 billion. Shareholders own equity worth $304.52 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ares Management Corporation (ARES) price momentum. RSI 9-day as of the close on 11 August was 46.95%, suggesting the stock is Neutral, with historical volatility in this time frame at 29.78%.
As of today, ARES’s price is $100.71 -0.77% or -$0.77 from its 5-day moving average. ARES is currently trading -1.55% lower than its 20-day SMA and +33.09% higher than its 100-day SMA. However, the stock’s current price level is +14.22% above the SMA50 and +44.31% above the SMA200.
The stochastic %K and %D were 42.18% and 46.73%, respectively, and the average true range (ATR) was 2.32. With the 14-day stochastic at 24.81% and the average true range at 2.25, the RSI (14) stands at 51.25%. The stock has reached -0.32 on the 9-day MACD Oscillator while the 14-day reading was at 0.00.
Analyst Ratings
Keefe Bruyette downgraded Ares Management Corporation (NYSE: ARES) to a a Mkt perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Ares Management Corporation (ARES) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ARES, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.
What is ARES’s price target for the next 12 months?
Analysts predict a range of price targets between $95.00 and $126.00, with a median target of $108.00. Taking a look at these predictions, the average price target given by analysts for Ares Management Corporation (ARES) stock is $109.38.
