ValuEngine downgraded shares of Ares Management (NYSE:ARES) from a buy rating to a hold rating in a research report report published on Tuesday morning.
Other research analysts have also issued reports about the company. TheStreet raised Ares Management from a c+ rating to a b- rating in a research report on Monday, December 3rd. Oppenheimer set a $28.00 price objective on Ares Management and gave the company a buy rating in a report on Friday, November 2nd. Goldman Sachs Group raised Ares Management from a neutral rating to a buy rating and set a $23.00 price objective on the stock in a report on Friday, January 4th. Morgan Stanley lowered their price objective on Ares Management from $25.00 to $22.00 and set a hold rating on the stock in a report on Wednesday, November 14th. Finally, Zacks Investment Research raised Ares Management from a sell rating to a hold rating in a report on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $26.00.
Shares of ARES stock opened at $21.63 on Tuesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. Ares Management has a fifty-two week low of $16.18 and a fifty-two week high of $25.95. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.52 and a beta of 1.58.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new stake in Ares Management in the 4th quarter valued at approximately $215,000. Kwmg LLC acquired a new stake in Ares Management in the 4th quarter valued at approximately $75,000. Northern Trust Corp acquired a new stake in Ares Management in the 4th quarter valued at approximately $414,000. Raymond James & Associates grew its holdings in Ares Management by 4.0% in the 4th quarter. Raymond James & Associates now owns 56,579 shares of the asset manager’s stock valued at $1,006,000 after buying an additional 2,201 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Ares Management by 848.4% in the 4th quarter. Bank of New York Mellon Corp now owns 288,308 shares of the asset manager’s stock valued at $5,126,000 after buying an additional 257,910 shares during the last quarter. 55.06% of the stock is currently owned by institutional investors and hedge funds.
About Ares Management
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.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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