Taking a look at what insiders are doing to gauge the Ares Management Corporation (ARES)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ares Management Corporation shares valued at $544,898 were sold by Sagati Aghili Naseem on Aug 03. At $73.18 per share, Sagati Aghili Naseem sold 7,446 shares. The insider’s holdings dropped to 218,082 shares worth approximately $14.65 million following the completion of this transaction.

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Also, ARES MANAGEMENT LLC purchased 75,568 shares, netting a total of over 639,804 in proceeds. Following the buying of shares at $8.47 each, the insider now holds 8,675,568 shares.

Before that, ARES MANAGEMENT LLC had added 56,700 shares to its account. In a trade valued at $488,414, the 10% Owner bought Ares Management Corporation shares for $8.61 each. Upon closing the transaction, the insider’s holdings increased to 56,700 shares, worth approximately $577.75 million.

As published in their initiating research note from Barclays on August 31, 2022, Ares Management Corporation [ARES] has been an Overweight and the price target has been revised to $92. This represents a 26.98% premium over Thursday’s closing price. Analysts at JMP Securities started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in early June. As of January 25, 2022, Piper Sandler has initiated its “an Overweight” rating for ARES. Earlier on December 16, 2021, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for ARES stock.

Analyzing ARES’s Price Performance

On Thursday, Ares Management Corporation [NYSE: ARES] plunged -5.61% to $67.18. The stock’s lowest price that day was $67.15, but it reached a high of $71.14 in the same session. During the last five days, there has been a drop of approximately -11.85%. Over the course of the year, Ares Management Corporation shares have dropped approximately -17.34%. Shares of the company reached a 52-week high of $85.48 on 04/04/22 and a 52-week low of $53.15 on 06/16/22. A 50-day SMA is recorded $72.25, while a 200-day SMA reached $72.82. Nevertheless, trading volume fell to 1.7 million shares from 0.65 million shares the previous day.

Support And Resistance Levels for Ares Management Corporation (ARES)

According to the 24-hour chart, there is a support level at 65.84, which, if violated, would cause prices to drop to 64.50. In the upper region, resistance lies at 69.83. The next price resistance is at 72.48. RSI (Relative Strength Index) is 33.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.17, which suggests the price will decrease in the coming days. Percent R is at 99.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Ares Management Corporation subject to short interest?

Stocks of Ares Management Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.35 million shares to 3.08 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.73 million shares. A jump of 11.36% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.76 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.76.

Which companies own the most shares of Ares Management Corporation (ARES)?

According to Wellington Management Co. LLP filings, the company currently owns 19,385,395 shares, which is about 11.27% of the total ARES shares outstanding. The investor’s shares have appreciated by 3,584,121 from its previous 13-F filing of 15801274.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,063,644,765. A total of 0 shares of Ares Management Corporation were sold by Capital Research & Management Co during the quarter, and -59,133 were sold by BlackRock Fund Advisors. In its current portfolio, HMI Capital Management LP holds 3,798,970 shares valued at $281.66 million.


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