Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ares Management Corp shares valued at $3,782,722 were sold by Berry Ryan on Sep 17 ’24. At $151.31 per share, Berry Ryan sold 25,000 shares. The insider’s holdings dropped to 389,202 shares worth approximately $61.51 million following the completion of this transaction.
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Also, Berry Ryan sold 12,500 shares, netting a total of over 1,952,125 in proceeds. Following the sale of shares at $156.17 each, the insider now holds 364,202 shares.
Before that, Berry Ryan had sold 12,500 shares from its account. In a trade valued at $1,930,037, the Chief Mktg. & Strategy Officer traded Ares Management Corp shares for $154.40 each. Upon closing the transaction, the insider’s holdings decreased to 12,500 shares, worth approximately $59.54 million.
As published in their initiating research note from Wells Fargo on September 12, 2024, Ares Management Corp [ARES] has been an Equal weight and the price target has been revised to $156. Analysts at Redburn Atlantic started covering the stock with ‘”a Neutral”‘ outlook in a report released in late August. As of June 13, 2024, Deutsche Bank has decreased its “Buy” rating to a “Hold” for ARES. Earlier on May 28, 2024, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for ARES stock.
Analyzing ARES Stock Performance
Over the course of the year, Ares Management Corp shares have jumped approximately 32.90%. Shares of the company reached a 52-week high of $159.95 on 09/26/24 and a 52-week low of $112.83 on 01/18/24. A 50-day SMA is recorded $146.50, while a 200-day SMA reached $135.84. Nevertheless, trading volume fell to 0.55 million shares from 1.13 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 155.97, which, if violated, would cause prices to drop to 153.90. In the upper region, resistance lies at 159.99. The next price resistance is at 161.94. RSI (Relative Strength Index) is 67.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.74, which suggests the price will increase in the coming days. Percent R is at 11.24%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
