Cat Rock Capital Management LP Buys 75,900 Shares of Ares Management Corporation $ARES

Cat Rock Capital Management LP boosted its stake in shares of Ares Management Corporation (NYSE:ARES) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,000 shares of the asset manager’s stock after acquiring an additional 75,900 shares during the period. Ares Management accounts for about 17.1% of Cat Rock Capital Management LP’s portfolio, making the stock its 4th biggest position. Cat Rock Capital Management LP owned about 0.20% of Ares Management worth $73,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Osbon Capital Management LLC acquired a new position in Ares Management in the fourth quarter valued at about $32,000. Elyxium Wealth LLC acquired a new stake in Ares Management during the fourth quarter worth about $42,000. Summit Securities Group LLC bought a new position in Ares Management in the 4th quarter valued at about $49,000. Western Wealth Management LLC bought a new position in Ares Management in the 1st quarter valued at about $50,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Ares Management in the 1st quarter valued at approximately $55,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Price Performance

Ares Management stock opened at $143.16 on Tuesday. The stock’s 50 day moving average is $129.16 and its 200 day moving average is $122.12. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $47.28 billion, a P/E ratio of 65.67, a P/E/G ratio of 1.23 and a beta of 1.49. Ares Management Corporation has a one year low of $95.80 and a one year high of $186.85.

Ares Management (NYSE:ARES) last released its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Ares Management Corporation will post 5.94 EPS for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $1.35 per share. The ex-dividend date is Wednesday, September 16th. This represents a $5.40 annualized dividend and a dividend yield of 3.8%. Ares Management’s dividend payout ratio is 247.71%.

Wall Street Analyst Weigh In

ARES has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $144.00 price target on shares of Ares Management in a research report on Monday, August 3rd. Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Royal Bank Of Canada lifted their price target on Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. BMO Capital Markets raised their price objective on Ares Management from $128.00 to $134.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Citigroup reiterated a “market outperform” rating on shares of Ares Management in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.47.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.