Ares Management Corp’s filing revealed that its Co-Founder & Exec. Chairman RESSLER ANTONY P unloaded Company’s shares for reported $23.39 million on Apr 05 ’24. In the deal valued at $133.56 per share,175,152 shares were sold. As a result of this transaction, RESSLER ANTONY P now holds 0 shares worth roughly $0.0.
Then, RESSLER ANTONY P sold 178,465 shares, generating $23,659,773 in total proceeds. Upon selling the shares at $132.57, the Co-Founder & Exec. Chairman now owns 0 shares.
Before that, RESSLER ANTONY P sold 45,984 shares. Ares Management Corp shares valued at $6,075,118 were divested by the Co-Founder & Exec. Chairman at a price of $132.11 per share. As a result of the transaction, RESSLER ANTONY P now holds 0 shares, worth roughly $0.0.
Jefferies downgraded its Ares Management Corp [ARES] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in early October with a ‘”an Outperform”‘ rating. Keefe Bruyette also remained covering ARES and has decreased its forecast on July 10, 2023 with a “Mkt perform” recommendation from previously “an Outperform” rating. Wells Fargo revised its rating on June 12, 2023. It rated ARES as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of ARES
On Friday, Ares Management Corp [NYSE:ARES] saw its stock jump 1.48% to $134.16. Over the last five days, the stock has gained 0.89%. Ares Management Corp shares have risen nearly 12.82% since the year began. Nevertheless, the stocks have risen 65.90% over the past one year. While a 52-week high of $139.48 was reached on 02/08/24, a 52-week low of $77.97 was recorded on 01/18/24. SMA at 50 days reached $131.64, while 200 days put it at $112.06. A total of 1.22 million shares were traded, compared to the trading of 0.96 million shares in the previous session.
Levels Of Support And Resistance For ARES Stock
The 24-hour chart illustrates a support level at 131.99, which if violated will result in even more drops to 129.81. On the upside, there is a resistance level at 135.57. A further resistance level may holdings at 136.97. The Relative Strength Index (RSI) on the 14-day chart is 55.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.79%. Stochastics %K at 46.82% indicates the stock is a holding.
How much short interest is there in Ares Management Corp?
A steep rise in short interest was recorded in Ares Management Corp stocks on Mar 15, 2024, dropping by -0.19 million shares to a total of 2.66 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.85 million shares. There was a decline of -7.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.77% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.25.
