66,800 Shares in Ares Management Co. (NYSE:ARES) Acquired by Rheos Capital Works Inc.

Rheos Capital Works Inc. purchased a new position in shares of Ares Management Co. (NYSE:ARES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,800 shares of the asset manager’s stock, valued at approximately $11,826,000.

Several other institutional investors and hedge funds have also bought and sold shares of ARES. Versant Capital Management Inc grew its position in Ares Management by 67.0% in the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 65 shares during the period. Point72 DIFC Ltd purchased a new position in Ares Management in the third quarter worth $36,000. Eastern Bank bought a new position in Ares Management in the 3rd quarter valued at $39,000. GAMMA Investing LLC increased its position in shares of Ares Management by 53.4% during the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 79 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of Ares Management by 1,572.7% in the 4th quarter. CENTRAL TRUST Co now owns 368 shares of the asset manager’s stock worth $65,000 after buying an additional 346 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael J. Arougheti sold 20,096 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,364,874.24. Following the completion of the sale, the chief executive officer now directly owns 229,904 shares of the company’s stock, valued at approximately $38,495,125.76. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan Berry sold 18,329 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the transaction, the insider now directly owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. The trade was a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 574,167 shares of company stock valued at $99,996,647 over the last quarter. 41.89% of the stock is owned by corporate insiders.

Ares Management Stock Performance

NYSE ARES opened at $198.19 on Monday. The company has a market capitalization of $62.05 billion, a P/E ratio of 91.33, a P/E/G ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a 52-week low of $119.76 and a 52-week high of $199.94. The company has a fifty day moving average of $182.03 and a 200-day moving average of $164.31.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the prior year, the business earned $0.83 EPS. As a group, equities research analysts predict that Ares Management Co. will post 4.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on ARES. JPMorgan Chase & Co. decreased their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and upped their price target for the company from $166.00 to $202.00 in a research note on Friday, December 20th. UBS Group lifted their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barclays restated an “overweight” rating and set a $224.00 target price on shares of Ares Management in a research report on Monday, January 27th. Finally, TD Cowen lifted their price target on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and a consensus price target of $176.08.

Ares Management Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.