The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ares Management Corp shares valued at $19,790,618 were sold by Rosenthal Bennett on Jun 21 ’24. At $131.94 per share, Rosenthal Bennett sold 150,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, KAPLAN DAVID B sold 125,000 shares, netting a total of over 16,492,637 in proceeds. Following the sale of shares at $131.94 each, the insider now holds 0 shares.
Before that, Olian Judy D. had sold 3,417 shares from its account. In a trade valued at $457,865, the Director traded Ares Management Corp shares for $134.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,417 shares, worth approximately $3.7 million.
As published in a research note from Deutsche Bank on June 13, 2024, Ares Management Corp [ARES] has been rated down from a Buy to a Hold and the price target has been revised to $132 from $176. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in late May. As of May 07, 2024, TD Cowen has initiated its “Buy” rating for ARES. Earlier on January 09, 2024, Jefferies downgraded its rating. Their new recommendation was “a Hold” for ARES stock which previously was a “a Buy”.
Analyzing ARES Stock Performance
During the last five days, there has been a surge of approximately 0.33%. Over the course of the year, Ares Management Corp shares have jumped approximately 13.90%. 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 $137.50, while a 200-day SMA reached $122.69. Nevertheless, trading volume fell to 1.23 million shares from 1.6 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 134.06, which, if violated, would cause prices to drop to 132.67. In the upper region, resistance lies at 136.41. The next price resistance is at 137.37. RSI (Relative Strength Index) is 47.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.34, which suggests the price will decrease in the coming days. Percent R is at 44.12%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
