Ares Management Corp’s recent filing unveils that its Co-Founder KAPLAN DAVID B unloaded Company’s shares for reported $2.02 million on Jun 03 ’24. In the deal valued at $138.11 per share,14,659 shares were sold. As a result of this transaction, KAPLAN DAVID B now holds 125,000 shares worth roughly $16.62 million.
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Then, KAPLAN DAVID B sold 110,341 shares, generating $15,486,877 in total proceeds. Upon selling the shares at $140.35, the Co-Founder now owns 139,659 shares.
Before that, Rosenthal Bennett sold 100,000 shares. Ares Management Corp shares valued at $14,041,185 were divested by the Co-Founder & Chairman of PEG at a price of $140.41 per share. As a result of the transaction, Rosenthal Bennett now holds 150,000 shares, worth roughly $19.94 million.
Deutsche Bank initiated its Ares Management Corp [ARES] rating to a Buy in a research note published on May 28, 2024; the price target was $176. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early May with a ‘”a Buy”‘ rating. Jefferies also remained covering ARES and has decreased its forecast on January 09, 2024 with a “Hold” recommendation from previously “Buy” rating. Wolfe Research started covering the stock on October 05, 2023. It rated ARES as “an Outperform”.
Price Performance Review of ARES
On Friday, Ares Management Corp [NYSE:ARES] saw its stock fall -0.80% to $132.93. Over the last five days, the stock has lost -5.17%. Ares Management Corp shares have risen nearly 11.78% since the year began. Nevertheless, the stocks have risen 46.79% over the past one year. While a 52-week high of $150.12 was reached on 05/16/24, a 52-week low of $89.77 was recorded on 01/18/24. SMA at 50 days reached $137.01, while 200 days put it at $120.74. A total of 0.97 million shares were traded, compared to the trading of 1.21 million shares in the previous session.
Levels Of Support And Resistance For ARES Stock
The 24-hour chart illustrates a support level at 131.55, which if violated will result in even more drops to 130.16. On the upside, there is a resistance level at 134.83. A further resistance level may holdings at 136.72. The Relative Strength Index (RSI) on the 14-day chart is 39.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.54%. Stochastics %K at 13.32% indicates the stock is a buying.
