In a filing, Ares Management Corp revealed its Co-Founder, CEO and President Arougheti Michael J unloaded Company’s shares for reported $5.83 million on Nov 21 ’24. In the deal valued at $175.20 per share,33,278 shares were sold. As a result of this transaction, Arougheti Michael J now holds 134,433 shares worth roughly $23.6 million.
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Then, Arougheti Michael J sold 25,843 shares, generating $4,423,230 in total proceeds. Upon selling the shares at $171.16, the Co-Founder, CEO and President now owns 167,711 shares.
Before that, Arougheti Michael J sold 18,232 shares. Ares Management Corp shares valued at $3,200,523 were divested by the Co-Founder, CEO and President at a price of $175.54 per share. As a result of the transaction, Arougheti Michael J now holds 116,201 shares, worth roughly $20.4 million.
Wells Fargo initiated its Ares Management Corp [ARES] rating to an Equal weight in a research note published on September 12, 2024; the price target was $156. A number of analysts have revised their coverage, including Redburn Atlantic’s analysts, who began to cover the stock in late August with a ‘”a Neutral”‘ rating. Deutsche Bank also remained covering ARES and has decreased its forecast on June 13, 2024 with a “Hold” recommendation from previously “Buy” rating. Deutsche Bank started covering the stock on May 28, 2024. It rated ARES as “a Buy”.
Price Performance Review of ARES
On Friday, Ares Management Corp [NYSE:ARES] saw its stock jump 0.29% to $175.52. Over the last five days, the stock has gained 4.97%. Ares Management Corp shares have risen nearly 47.60% since the year began. Nevertheless, the stocks have risen 61.29% over the past one year. While a 52-week high of $176.31 was reached on 11/22/24, a 52-week low of $107.69 was recorded on 01/18/24. SMA at 50 days reached $163.70, while 200 days put it at $144.57.
Levels Of Support And Resistance For ARES Stock
The 24-hour chart illustrates a support level at 174.24, which if violated will result in even more drops to 172.97. On the upside, there is a resistance level at 176.81. A further resistance level may holdings at 178.11. The Relative Strength Index (RSI) on the 14-day chart is 63.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.04, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.99%. Stochastics %K at 87.69% indicates the stock is a selling.
How much short interest is there in Ares Management Corp?
A steep rise in short interest was recorded in Ares Management Corp stocks on 2024-10-31, growing by 0.65 million shares to a total of 3.9 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 3.25 million shares. There was a rise of 16.62%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on May 07, 2024 when TD Cowen began covering the stock and recommended ‘”a Buy”‘ rating along with a $154 price target.
