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 $5,205,205 were purchased by BAR HOLDINGS LLC on Nov 27 ’24. At $178.83 per share, BAR HOLDINGS LLC acquired 29,107 shares.
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Also, RYAN BERRY purchased 20,000 shares, netting a total of over 3,576,600 in proceeds.
Before that, KAPLAN DAVID B had sold 56,781 shares from its account. In a trade valued at $10,116,489, the Co-Founder traded Ares Management Corp shares for $178.17 each. Upon closing the transaction, the insider’s holdings decreased to 56,781 shares, worth approximately $5.36 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 1.68%. Over the course of the year, Ares Management Corp shares have jumped approximately 46.97%. Shares of the company reached a 52-week high of $180.38 on 11/27/24 and a 52-week low of $112.83 on 01/18/24. A 50-day SMA is recorded $165.20, while a 200-day SMA reached $145.17. Nevertheless, trading volume fell to 1.21 million shares from 2.05 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 172.74, which, if violated, would cause prices to drop to 170.70. In the upper region, resistance lies at 178.60. The next price resistance is at 182.42. RSI (Relative Strength Index) is 58.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.71, which suggests the price will increase in the coming days. Percent R is at 37.48%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
