The stock of Ares Management Corporation (NYSE:ARES) decreased by -$4.03 on Tuesday to finish at $97.50, down -3.97 percent. The last five days have seen an average of 1,015,200 shares of common stock traded. 32 times new highs were reached in the current year, with a gain of $29.06. The average number of shares traded over the last 20 days was 932,375, while the average volume over the last 50 days totaled 1,019,578.
ARES stock dropped -3.42% since last month. On 08/15/23, the company’s shares reached a one-month low of $97.30. The stock touched a high of $103.41 on 08/01/23, after rallying from a low of $58.34 in 52 weeks. The price of ARES stock has risen by 42.46% or $29.06 this year, reaching a new high 32 times. Still, the stock price is down -5.72% 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 8 days ago on Aug 08. On Aug 08, Head of Credit Group deVeer R. Kipp sold 200,000 shares at $100.13 each. This transaction resulted in the insider making $20,025,557. On Jul 03, ARES MANAGEMENT LLC sold 6,885,415 shares at a price of US$16.79. After the transaction, the insider now owns 134,659,188 shares. Co-Founder, CEO and President Arougheti Michael J had earlier sold 36,085 shares on Jun 29 for $95.09 a share. The transaction was completed for $3,431,323.
Valuation Metrics
Ares Management Corporation (ARES) has a trailing price-to-earnings (P/E) ratio of 59.67. Beta for the stock is 1.33. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 8.31, the price-to-book (PB) ratio of 10.20.
Company paid $0.77 per share in dividends, remained unchanged from $0.77 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 7.90, and the total debt to equity ratio is 7.90. Ares Management Corporation’s operating margin stood at 16.30% for the same period. Based on annual data, it had gross profit of $306.36 million and revenue of $3.06 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ARES’s return on assets (ROA) during the last 12 months has been 1.40%. There was a 1.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 18.60%.
Earnings Surprise
According to Ares Management Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.33 billion, while revenues rose by 36.49% to $0.0. It was predicted that Ares Management Corporation’s quarterly earnings would be $0.9, but it ended up being $0.85, beating the consensus by 5.90%. EBITDA was $255.55 million for the quarter. At the end of Ares Management Corporation’s most recent quarter ended June 29, its total debt was $14.03 billion. Equity owned by shareholders amounts to $304.52 million.
Technical Picture
Here’s a quick look at Ares Management Corporation’s (ARES) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 40.65%, suggesting the stock is Neutral, with a 37.61% historical volatility rate.
The stochastic %K and %D were 30.73% and 41.24% respectively, while the average true range (ATR) was 2.55. Based on the 14-day stochastic reading of 3.26%, the RSI (14) reading is 45.64%. On the 9-day MACD Oscillator, the stock is at -0.79, and the 14-day reading is at -0.67.
Analyst Ratings
Ares Management Corporation (NYSE: ARES) was downgraded by Keefe Bruyette to a a Mkt perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Ares Management Corporation (ARES) an Overweight rating. ARES is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 8 others recommend it as a buy.
What is ARES’s price target for the next 12 months?
The current consensus forecast for the stock is between $95.00 and $126.00, with a median target price of $108.00. In analyzing these forecasts, the average price target given by analysts for Ares Management Corporation (ARES) is $109.38.
