Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ares Management Corp shares valued at $28,327,209 were sold by RESSLER ANTONY P on Apr 09 ’24. At $133.22 per share, RESSLER ANTONY P sold 212,637 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, RESSLER ANTONY P sold 174,258 shares, netting a total of over 23,505,517 in proceeds. Following the sale of shares at $134.89 each, the insider now holds 0 shares.
Before that, RESSLER ANTONY P had sold 175,152 shares from its account. In a trade valued at $23,393,850, the Co-Founder & Exec. Chairman traded Ares Management Corp shares for $133.56 each. Upon closing the transaction, the insider’s holdings decreased to 175,152 shares, worth approximately $0.0.
As published in a research note from Jefferies on January 09, 2024, Ares Management Corp [ARES] has been rated down from a Buy to a Hold and the price target has been revised to $122. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in early October. As of July 10, 2023, Keefe Bruyette has decreased its “an Outperform” rating to a “Mkt perform” for ARES. Earlier on June 12, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for ARES stock which previously was a “an Overweight”.
Analyzing ARES Stock Performance
During the last five days, there has been a surge of approximately 1.56%. Over the course of the year, Ares Management Corp shares have jumped approximately 12.71%. Shares of the company reached a 52-week high of $139.48 on 02/08/24 and a 52-week low of $112.83 on 01/18/24. A 50-day SMA is recorded $132.41, while a 200-day SMA reached $112.70. Nevertheless, trading volume fell to 1.1 million shares from 1.32 million shares the previous day.
Support And Resistance Levels for Ares Management Corp (ARES)
According to the 24-hour chart, there is a support level at 131.54, which, if violated, would cause prices to drop to 129.05. In the upper region, resistance lies at 136.07. The next price resistance is at 138.11. RSI (Relative Strength Index) is 53.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.83, which suggests the price will decrease in the coming days. Percent R is at 40.04%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ares Management Corp subject to short interest?
Stocks of Ares Management Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.19 million shares to 2.66 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.85 million shares. A decline of -7.14% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.25 of the overall float, the days-to-cover ratio (short ratio) decline to 2.25.
