Gardner Lewis Asset Management L P Purchases Shares of 5,590 Ares Management Corporation $ARES

Gardner Lewis Asset Management L P acquired a new position in shares of Ares Management Corporation (NYSE:ARES) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,590 shares of the asset manager’s stock, valued at approximately $894,000.

Several other institutional investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC lifted its position in Ares Management by 100.0% during the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Ares Management during the 2nd quarter worth $35,000. Redmont Wealth Advisors LLC purchased a new position in Ares Management in the third quarter worth $40,000. First Horizon Corp bought a new position in Ares Management in the third quarter valued at $51,000. Finally, Covestor Ltd increased its stake in Ares Management by 182.6% in the third quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 272 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Down 5.1%

Shares of Ares Management stock opened at $123.21 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $195.26. The company’s 50 day moving average price is $156.00 and its 200-day moving average price is $161.54. The stock has a market capitalization of $40.27 billion, a price-to-earnings ratio of 72.91, a P/E/G ratio of 0.75 and a beta of 1.52.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.26). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.38 billion. Ares Management had a net margin of 9.41% and a return on equity of 19.26%. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This is a boost from Ares Management’s previous quarterly dividend of $0.84. This represents a $5.40 annualized dividend and a dividend yield of 4.4%. Ares Management’s payout ratio is 265.09%.

Insider Transactions at Ares Management

In other Ares Management news, Director Ashish Bhutani bought 10,000 shares of Ares Management stock in a transaction dated Friday, February 6th. The shares were purchased at an average cost of $126.61 per share, with a total value of $1,266,100.00. Following the completion of the purchase, the director owned 34,071 shares of the company’s stock, valued at approximately $4,313,729.31. This represents a 41.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 186,197 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $152.75, for a total value of $28,441,591.75. Following the transaction, the chief executive officer owned 290,997 shares of the company’s stock, valued at approximately $44,449,791.75. This represents a 39.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 590,000 shares of company stock worth $90,653,808. 36.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ARES. Barclays cut their price objective on Ares Management from $222.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised Ares Management from a “hold” rating to a “buy” rating and cut their target price for the stock from $182.00 to $155.00 in a research note on Friday, February 6th. Royal Bank Of Canada decreased their price target on shares of Ares Management from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Raymond James Financial upgraded shares of Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective for the company in a report on Monday, February 9th. Finally, Oppenheimer reduced their target price on shares of Ares Management from $224.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.13.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.