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 $292,425 were sold by Berry Ryan on Nov 11 ’24. At $175.00 per share, Berry Ryan sold 1,671 shares. The insider’s holdings dropped to 253,214 shares worth approximately $42.4 million following the completion of this transaction.
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Also, Berry Ryan sold 18,329 shares, netting a total of over 3,210,874 in proceeds. Following the sale of shares at $175.18 each, the insider now holds 254,885 shares.
Before that, RYAN BERRY had added 20,000 shares to its account. In a trade valued at $3,288,800, the Officer bought Ares Management Corp shares for $164.44 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 drop of approximately -2.93%. Over the course of the year, Ares Management Corp shares have jumped approximately 40.81%. 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 $159.60, while a 200-day SMA reached $143.02. Nevertheless, trading volume fell to 1.09 million shares from 1.04 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 165.66, which, if violated, would cause prices to drop to 163.86. In the upper region, resistance lies at 170.40. The next price resistance is at 173.34. RSI (Relative Strength Index) is 52.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.63, which suggests the price will increase in the coming days. Percent R is at 46.73%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
