Ares Management L.P. (NYSE:ARES) Downgraded to “Sell” at BidaskClub
BidaskClub cut shares of Ares Management L.P. (NYSE:ARES) from a hold rating to a sell rating in a research report released on Saturday.
ARES has been the topic of several other research reports. Credit Suisse Group raised Ares Management L.P. from a neutral rating to an outperform rating in a research note on Thursday, May 11th. ValuEngine downgraded Ares Management L.P. from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Zacks Investment Research raised Ares Management L.P. from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Tuesday, July 11th. TheStreet raised Ares Management L.P. from a c rating to a b- rating in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada initiated coverage on Ares Management L.P. in a research note on Thursday, June 29th. They issued an outperform rating and a $21.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Ares Management L.P. currently has an average rating of Buy and a consensus target price of $20.75.
Shares of Ares Management L.P. (NYSE ARES) opened at 18.15 on Friday. The company has a 50-day moving average price of $18.20 and a 200-day moving average price of $18.98. Ares Management L.P. has a 52 week low of $14.75 and a 52 week high of $23.25. The company has a market capitalization of $3.89 billion, a PE ratio of 27.05 and a beta of 1.25.
Ares Management L.P. (NYSE:ARES) last posted its quarterly earnings data on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, hitting the consensus estimate of $0.69. Ares Management L.P. had a return on equity of 40.40% and a net margin of 5.86%. The firm had revenue of $554 million for the quarter, compared to the consensus estimate of $442.10 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. Analysts predict that Ares Management L.P. will post $1.83 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. Investors of record on Friday, August 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.83%. The ex-dividend date is Wednesday, August 16th. This is an increase from Ares Management L.P.’s previous quarterly dividend of $0.13. Ares Management L.P.’s dividend payout ratio (DPR) is 71.23%.
A number of hedge funds have recently added to or reduced their stakes in ARES. Balter Liquid Alternatives LLC purchased a new stake in Ares Management L.P. during the second quarter worth about $264,000. Royce & Associates LP increased its stake in Ares Management L.P. by 3.2% in the second quarter. Royce & Associates LP now owns 3,761,776 shares of the asset manager’s stock worth $67,712,000 after buying an additional 115,000 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Ares Management L.P. during the second quarter worth about $479,000. Bank of New York Mellon Corp increased its stake in Ares Management L.P. by 79.8% in the second quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock worth $338,000 after buying an additional 8,356 shares during the last quarter. Finally, LLBH Private Wealth Management LLC purchased a new stake in Ares Management L.P. during the second quarter worth about $923,000. 14.67% of the stock is currently owned by institutional investors and hedge funds.
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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