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 $22,830,258 were sold by ARES MANAGEMENT LLC on Dec 03 ’24. At $34.59 per share, ARES MANAGEMENT LLC sold 660,000 shares. The insider’s holdings dropped to 36,167,768 shares worth approximately $6.4 billion following the completion of this transaction.
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Also, ARES MANAGEMENT LLC sold 170,000 shares, netting a total of over 5,868,230 in proceeds. Following the sale of shares at $34.52 each, the insider now holds 35,997,768 shares.
Before that, ARES MANAGEMENT LLC had sold 475,000 shares from its account. In a trade valued at $16,505,728, the 10% Owner traded Ares Management Corp shares for $34.75 each. Upon closing the transaction, the insider’s holdings decreased to 475,000 shares, worth approximately $6.52 billion.
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 1.31%. Over the course of the year, Ares Management Corp shares have jumped approximately 48.90%. 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 $167.10, while a 200-day SMA reached $146.22. Nevertheless, trading volume fell to 0.91 million shares from 1.59 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 175.32, which, if violated, would cause prices to drop to 173.57. In the upper region, resistance lies at 179.11. The next price resistance is at 181.15. RSI (Relative Strength Index) is 60.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.27, which suggests the price will increase in the coming days. Percent R is at 22.16%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
