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 $6,828,892 were sold by ARES MANAGEMENT LLC on Nov 19 ’24. At $34.81 per share, ARES MANAGEMENT LLC sold 196,166 shares. The insider’s holdings dropped to 38,606,806 shares worth approximately $6.64 billion following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, ARES MANAGEMENT LLC sold 87,536 shares, netting a total of over 3,056,705 in proceeds. Following the sale of shares at $34.92 each, the insider now holds 38,802,972 shares.
Before that, Arougheti Michael J had sold 20,525 shares from its account. In a trade valued at $3,476,961, the Co-Founder, CEO and President traded Ares Management Corp shares for $169.40 each. Upon closing the transaction, the insider’s holdings decreased to 20,525 shares, worth approximately $33.27 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
During the last five days, there has been a surge of approximately 2.65%. Over the course of the year, Ares Management Corp shares have jumped approximately 44.54%. 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 $162.51, while a 200-day SMA reached $144.14. Nevertheless, trading volume fell to 1.29 million shares from 0.72 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 169.90, which, if violated, would cause prices to drop to 167.90. In the upper region, resistance lies at 173.42. The next price resistance is at 174.95. RSI (Relative Strength Index) is 58.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.86, which suggests the price will increase in the coming days. Percent R is at 21.70%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
