In a filing, Ares Management Corp revealed its Co-Founder & Exec. Chairman RESSLER ANTONY P unloaded Company’s shares for reported $15.11 million on Apr 12 ’24. In the deal valued at $131.97 per share,114,492 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 175,000 shares, generating $23,469,760 in total proceeds. Upon selling the shares at $134.11, the Co-Founder & Exec. Chairman now owns 0 shares.
Before that, RESSLER ANTONY P sold 139,915 shares. Ares Management Corp shares valued at $18,798,655 were divested by the Co-Founder & Exec. Chairman at a price of $134.36 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 fall -2.03% to $131.35. Over the last five days, the stock has lost -2.09%. Ares Management Corp shares have risen nearly 10.45% since the year began. Nevertheless, the stocks have risen 60.87% 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 $132.85, while 200 days put it at $113.10. A total of 0.98 million shares were traded, compared to the trading of 1.59 million shares in the previous session.
Levels Of Support And Resistance For ARES Stock
The 24-hour chart illustrates a support level at 130.49, which if violated will result in even more drops to 129.63. On the upside, there is a resistance level at 133.04. A further resistance level may holdings at 134.73. The Relative Strength Index (RSI) on the 14-day chart is 45.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.89%. Stochastics %K at 56.07% indicates the stock is a holding.
