Ares Management Corp’s recently made public that its Co-Founder & Chairman of PEG Rosenthal Bennett unloaded Company’s shares for reported $19.79 million on Jun 21 ’24. In the deal valued at $131.94 per share,150,000 shares were sold. As a result of this transaction, Rosenthal Bennett now holds 0 shares worth roughly $0.0.
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Then, KAPLAN DAVID B sold 125,000 shares, generating $16,492,637 in total proceeds. Upon selling the shares at $131.94, the Co-Founder now owns 0 shares.
Before that, Olian Judy D. sold 3,417 shares. Ares Management Corp shares valued at $457,865 were divested by the Director at a price of $134.00 per share. As a result of the transaction, Olian Judy D. now holds 27,312 shares, worth roughly $3.64 million.
Deutsche Bank downgraded its Ares Management Corp [ARES] rating to a Hold from a a Buy in a research note published on June 13, 2024; the price target was decreased to $132 from $176. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in late May with a ‘”a Buy”‘ rating. TD Cowen began covering ARES with “Buy” recommendation on May 07, 2024. Jefferies revised its rating on January 09, 2024. It rated ARES as “a Hold” which previously was an “a Buy”.
Price Performance Review of ARES
On Friday, Ares Management Corp [NYSE:ARES] saw its stock fall -1.96% to $133.28. Over the last five days, the stock has gained 1.13%. Ares Management Corp shares have risen nearly 12.08% since the year began. Nevertheless, the stocks have risen 41.43% over the past one year. While a 52-week high of $150.12 was reached on 05/16/24, a 52-week low of $92.43 was recorded on 01/18/24. SMA at 50 days reached $137.63, while 200 days put it at $122.98. A total of 2.62 million shares were traded, compared to the trading of 1.1 million shares in the previous session.
Levels Of Support And Resistance For ARES Stock
The 24-hour chart illustrates a support level at 131.86, which if violated will result in even more drops to 130.43. On the upside, there is a resistance level at 136.03. A further resistance level may holdings at 138.77. The Relative Strength Index (RSI) on the 14-day chart is 43.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.83%. Stochastics%K at 53.56% indicates the stock is a holding.
The most recent change occurred on October 05, 2023 when Wolfe Research began covering the stock and recommended ‘”an Outperform”‘ rating along with a $133 price target.
