Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ares Management Corp shares valued at $3,288,800 were purchased by RYAN BERRY on Nov 06 ’24. At $164.44 per share, RYAN BERRY acquired 20,000 shares.
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Also, Berry Ryan sold 40,000 shares, netting a total of over 6,719,793 in proceeds. Following the sale of shares at $167.99 each, the insider now holds 304,202 shares.
Before that, RYAN BERRY had added 40,000 shares to its account. In a trade valued at $6,539,200, the Officer bought Ares Management Corp shares for $163.48 each.
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
During the last five days, there has been a surge of approximately 2.07%. Over the course of the year, Ares Management Corp shares have jumped approximately 45.06%. Shares of the company reached a 52-week high of $175.74 on 11/06/24 and a 52-week low of $112.83 on 01/18/24. A 50-day SMA is recorded $157.02, while a 200-day SMA reached $141.80. Nevertheless, trading volume fell to 2.85 million shares from 0.9 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 168.29, which, if violated, would cause prices to drop to 164.09. In the upper region, resistance lies at 176.22. The next price resistance is at 179.95. RSI (Relative Strength Index) is 62.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.36, which suggests the price will decrease in the coming days. Percent R is at 18.26%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
