Ares Management Corporation (ARES) may enjoy gains as insiders got busy in the recent days

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Ares Management Corporation’s filing revealed that its Co-Founder & Co-Chair of PEG KAPLAN DAVID B unloaded Company’s shares for reported $14.09 million on Oct 27. In the deal valued at $73.11 per share,192,782 shares were sold. As a result of this transaction, KAPLAN DAVID B now holds 0 shares worth roughly $ 0.0.


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Then, Rosenthal Bennett sold 77,029 shares, generating $5,634,839 in total proceeds. Upon selling the shares at $73.15, the Co-Founder & Co-Chair of PEG now owns 300,000 shares.

Before that, KAPLAN DAVID B sold 184,104 shares. Ares Management Corporation shares valued at $13,360,711 were divested by the Co-Founder & Co-Chair of PEG at a price of $72.57 per share. As a result of the transaction, KAPLAN DAVID B now holds 192,782 shares, worth roughly $15.12 million.

Barclays initiated its Ares Management Corporation [ARES] rating to an Overweight in a research note published on Friday, August 31, 2022; the price target was $92. PT values the company’s stock at a premium of 14.73 to its Friday closing price. A number of analysts have revised their coverage, including JMP Securities’s analysts, who began to cover the stock in early June with a ‘”a Mkt perform”‘ rating. Piper Sandler began covering ARES with “an Overweight” recommendation on January 25, 2022. Wells Fargo started covering the stock on December 16, 2021. It rated ARES as “an Overweight”.

Price Performance Review of ARES

On Friday, Ares Management Corporation [NYSE:ARES] saw its stock jump 1.88% to $78.45. On the same session, the stock had its day’s lowest price of $77.36, but rose to a high of $79.68. Over the last five days, the stock has gained 2.03%. Ares Management Corporation shares have fallen nearly -3.47% since the year began. Nevertheless, the stocks have fallen -9.11% over the past one year. While a 52-week high of $90.08 was reached on 04/04/22, a 52-week low of $53.15 was recorded on 06/16/22. SMA at 50 days reached $70.52, while 200 days put it at $71.30. A total of 0.78 million shares were traded, compared to the trading of 1.2 million shares in the previous session.

Levels Of Support And Resistance For ARES Stock

The 24-hour chart illustrates a support level at 77.31, which if violated will result in even more drops to 76.18. On the upside, there is a resistance level at 79.63. A further resistance level may holdings at 80.82. The Relative Strength Index (RSI) on the 14-day chart is 67.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.68, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.38%. Stochastics %K at 86.81% indicates the stock is a selling.

How much short interest is there in Ares Management Corporation?

A steep rise in short interest was recorded in Ares Management Corporation stocks on Jul 14, 2022, growing by 0.35 million shares to a total of 3.08 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.73 million shares. There was a rise of 11.36%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.16% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.76.

Ares Management Corporation [ARES] – Who Are The Largest Shareholders?

In filings from Wellington Management Co. LLP, it is revealed that the company now owns 19,385,395 shares, or roughly 11.27% of the outstanding ARES shares. In other words, the investor’s shares have risen by 3,584,121 from its previous 13-F filing of 15801274.0. Additionally, The Vanguard Group, Inc. increased 3.61% of its stake after which the total value it holdings stand at $888,761,710. Over the last quarter, Capital Research & Management Co sold -956 shares of Ares Management Corporation, while Capital Research & Management Co sold 0 shares. At present, BlackRock Fund Advisors is holding 5,548,345 shares valued at $343.72 million. HMI Capital Management LP owned 3,798,970 shares of the company at the time of its most recent 13F filing, worth $235.35 million.

According to FactSet, Ares Management Corporation’s share price will average $87.08 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.34 percent from its previous closing price of $77.00. Analysts expect Ares Management Corporation stock to reach the higher price of $103.00, while the lowest price estimate is $78.00. However, 14 analysts have rated ARES stock as an Overweight in their predictions for 2022. The most recent change occurred on December 16, 2021 when BofA Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $117 price target.

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