Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ares Management Corp shares valued at $20,827,932 were sold by RESSLER ANTONY P on Apr 16 ’24. At $130.29 per share, RESSLER ANTONY P sold 159,860 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, RESSLER ANTONY P sold 94,697 shares, netting a total of over 12,273,163 in proceeds. Following the sale of shares at $129.60 each, the insider now holds 0 shares.
Before that, Rosenthal Bennett had sold 50,000 shares from its account. In a trade valued at $6,485,848, the Co-Founder & Chairman of PEG traded Ares Management Corp shares for $129.72 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 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 drop of approximately -1.75%. Over the course of the year, Ares Management Corp shares have jumped approximately 10.75%. 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 $133.22, while a 200-day SMA reached $113.63. Nevertheless, trading volume fell to 1.24 million shares from 1.26 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 130.58, which, if violated, would cause prices to drop to 129.45. In the upper region, resistance lies at 132.72. The next price resistance is at 133.73. RSI (Relative Strength Index) is 47.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.86, which suggests the price will decrease in the coming days. Percent R is at 53.73%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
