Dockside LLC Buys Shares of 8,348 Ares Management Corporation $ARES

Dockside LLC bought a new stake in Ares Management Corporation (NYSE:ARES) during the 4th quarter, Holdings Channel reports. The fund bought 8,348 shares of the asset manager’s stock, valued at approximately $1,349,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vulcan Value Partners LLC lifted its stake in Ares Management by 10.6% in the third quarter. Vulcan Value Partners LLC now owns 1,350,249 shares of the asset manager’s stock valued at $215,785,000 after buying an additional 129,368 shares during the period. Hudson Bay Capital Management LP raised its position in shares of Ares Management by 1,903.9% during the third quarter. Hudson Bay Capital Management LP now owns 60,717 shares of the asset manager’s stock worth $9,708,000 after purchasing an additional 57,687 shares during the period. Quilter Plc raised its position in shares of Ares Management by 5.6% during the fourth quarter. Quilter Plc now owns 704,069 shares of the asset manager’s stock worth $113,799,000 after purchasing an additional 37,366 shares during the period. CI Investments Inc. raised its position in shares of Ares Management by 35,425.5% during the third quarter. CI Investments Inc. now owns 221,679 shares of the asset manager’s stock worth $35,444,000 after purchasing an additional 221,055 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ares Management during the third quarter worth about $2,971,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BMO Capital Markets dropped their price target on Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. UBS Group set a $148.00 price target on Ares Management in a research report on Friday, February 20th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. TD Cowen dropped their price target on Ares Management from $148.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, The Goldman Sachs Group dropped their price target on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.56.

Ares Management Stock Up 1.6%

Shares of Ares Management stock opened at $134.98 on Friday. The business’s 50 day simple moving average is $119.83 and its 200 day simple moving average is $134.91. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. The firm has a market cap of $44.52 billion, a PE ratio of 62.78, a P/E/G ratio of 1.18 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $1.09 EPS. On average, analysts predict that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is currently 251.16%.

Ares Management 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.