Alta Fox Capital Management LLC Takes Position in Ares Management Corporation $ARES

Alta Fox Capital Management LLC purchased a new stake in shares of Ares Management Corporation (NYSE:ARES) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 100,600 shares of the asset manager’s stock, valued at approximately $16,260,000. Ares Management comprises about 3.5% of Alta Fox Capital Management LLC’s portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Ares Management by 20.2% during the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after acquiring an additional 4,373,955 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Ares Management by 26.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock valued at $922,196,000 after buying an additional 1,187,174 shares during the last quarter. Geode Capital Management LLC lifted its position in Ares Management by 55.7% in the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after buying an additional 1,963,460 shares during the last quarter. Capital International Investors lifted its position in Ares Management by 0.3% in the fourth quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after buying an additional 14,516 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Ares Management by 8.6% in the fourth quarter. Principal Financial Group Inc. now owns 3,839,693 shares of the asset manager’s stock valued at $620,616,000 after buying an additional 304,920 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Up 1.6%

Shares of ARES opened at $134.98 on Friday. The stock has a market capitalization of $44.52 billion, a PE ratio of 62.78, a P/E/G ratio of 1.18 and a beta of 1.51. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $195.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The company’s 50-day simple moving average is $119.83 and its 200-day simple moving average is $134.91.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same period in the prior year, the company posted $1.09 EPS. Analysts forecast that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, June 16th. Ares Management’s dividend payout ratio is presently 251.16%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARES. Barclays upped their target price on shares of Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, May 26th. Morgan Stanley reduced their price target on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Zacks Research raised shares of Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.56.

About Ares Management

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.