Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ares Management Corp shares valued at $13,611,491 were sold by Arougheti Michael J on May 16 ’24. At $147.69 per share, Arougheti Michael J sold 92,163 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Arougheti Michael J sold 157,837 shares, netting a total of over 23,395,197 in proceeds. Following the sale of shares at $148.22 each, the insider now holds 92,163 shares.
Before that, RESSLER ANTONY P had sold 143,569 shares from its account. In a trade valued at $18,880,987, the Co-Founder & Exec. Chairman traded Ares Management Corp shares for $131.51 each. Upon closing the transaction, the insider’s holdings decreased to 143,569 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 drop of approximately -3.38%. Over the course of the year, Ares Management Corp shares have jumped approximately 21.72%. Shares of the company reached a 52-week high of $150.12 on 05/16/24 and a 52-week low of $112.83 on 01/18/24. A 50-day SMA is recorded $135.54, while a 200-day SMA reached $118.49. Nevertheless, trading volume fell to 1.31 million shares from 2.59 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 142.96, which, if violated, would cause prices to drop to 141.18. In the upper region, resistance lies at 146.79. The next price resistance is at 148.84. RSI (Relative Strength Index) is 60.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.25, which suggests the price will increase in the coming days. Percent R is at 29.31%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
