Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ares Management Corp shares valued at $18,880,987 were sold by RESSLER ANTONY P on Apr 17 ’24. At $131.51 per share, RESSLER ANTONY P sold 143,569 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, RESSLER ANTONY P sold 159,860 shares, netting a total of over 20,827,932 in proceeds. Following the sale of shares at $130.29 each, the insider now holds 0 shares.
Before that, RESSLER ANTONY P had sold 94,697 shares from its account. In a trade valued at $12,273,163, the Co-Founder & Exec. Chairman traded Ares Management Corp shares for $129.60 each. Upon closing the transaction, the insider’s holdings decreased to 94,697 shares, worth approximately $0.0.
As published in their initiating research note from TD Cowen on May 07, 2024, Ares Management Corp [ARES] has been a Buy and the price target has been revised to $154. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of October 05, 2023, Wolfe Research has initiated its “an Outperform” rating for ARES. Earlier on July 10, 2023, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for ARES stock which previously was a “an Outperform”.
Analyzing ARES Stock Performance
During the last five days, there has been a surge of approximately 5.29%. Over the course of the year, Ares Management Corp shares have jumped approximately 16.61%. Shares of the company reached a 52-week high of $140.35 on 05/07/24 and a 52-week low of $112.83 on 01/18/24. A 50-day SMA is recorded $133.45, while a 200-day SMA reached $116.29. Nevertheless, trading volume fell to 0.72 million shares from 1.72 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 136.50, which, if violated, would cause prices to drop to 134.34. In the upper region, resistance lies at 139.79. The next price resistance is at 140.92. RSI (Relative Strength Index) is 60.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.11, which suggests the price will increase in the coming days. Percent R is at 11.11%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
