In a filing, Ares Management Corp revealed its Chief Mktg. & Strategy Officer Berry Ryan unloaded Company’s shares for reported $2.59 million on Dec 11 ’24. In the deal valued at $180.16 per share,14,357 shares were sold. As a result of this transaction, Berry Ryan now holds 233,214 shares worth roughly $42.84 million.
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Then, Berry Ryan sold 200 shares, generating $36,014 in total proceeds. Upon selling the shares at $180.07, the Chief Mktg. & Strategy Officer now owns 253,014 shares.
Before that, ARES MANAGEMENT LLC sold 11,500,000 shares. Ares Management Corp shares valued at $395,255,000 were divested by the 10% Owner at a price of $34.37 per share. As a result of the transaction, ARES MANAGEMENT LLC now holds 23,922,768 shares, worth roughly $4.39 billion.
Wells Fargo upgraded its Ares Management Corp [ARES] rating to an Overweight from a an Equal weight in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid September with a ‘”an Equal weight”‘ rating. Redburn Atlantic began covering ARES with “Neutral” recommendation on August 27, 2024. Deutsche Bank revised its rating on June 13, 2024. It rated ARES as “a Hold” which previously was an “a Buy”.
Price Performance Review of ARES
On Monday, Ares Management Corp [NYSE:ARES] saw its stock jump 0.69% to $183.70. Over the last five days, the stock has gained 4.80%. Ares Management Corp shares have risen nearly 54.47% since the year began. Nevertheless, the stocks have risen 61.00% over the past one year. While a 52-week high of $185.06 was reached on 12/13/24, a 52-week low of $112.83 was recorded on 01/18/24. SMA at 50 days reached $170.30, while 200 days put it at $147.90.
Levels Of Support And Resistance For ARES Stock
The 24-hour chart illustrates a support level at 182.14, which if violated will result in even more drops to 180.57. On the upside, there is a resistance level at 184.88. A further resistance level may holdings at 186.05. The Relative Strength Index (RSI) on the 14-day chart is 67.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.82, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.11%. Stochastics %K at 82.90% 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 2024-11-29, dropping by -0.57 million shares to a total of 3.33 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 3.9 million shares. There was a decline of -17.16%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 28, 2024 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $176 price target.
