Rivernorth Capital Management LLC Invests $4.21 Million in Ares Management Corporation $ARES

Rivernorth Capital Management LLC purchased a new stake in shares of Ares Management Corporation (NYSE:ARES) during the first quarter, Holdings Channel reports. The fund purchased 38,547 shares of the asset manager’s stock, valued at approximately $4,205,000.

A number of other large investors have also recently bought and sold shares of ARES. Empowered Funds LLC lifted its stake in shares of Ares Management by 114.7% in the 1st quarter. Empowered Funds LLC now owns 20,921 shares of the asset manager’s stock valued at $2,282,000 after purchasing an additional 11,178 shares during the period. Estuary Capital Management LP acquired a new position in Ares Management in the first quarter valued at approximately $35,830,000. Quantinno Capital Management LP lifted its stake in Ares Management by 125.3% in the first quarter. Quantinno Capital Management LP now owns 108,741 shares of the asset manager’s stock valued at $11,864,000 after buying an additional 60,471 shares during the period. Saba Capital Management L.P. bought a new position in shares of Ares Management during the 1st quarter worth approximately $26,304,000. Finally, Advent International L.P. boosted its holdings in shares of Ares Management by 9,353.6% during the 1st quarter. Advent International L.P. now owns 428,720 shares of the asset manager’s stock worth $46,773,000 after buying an additional 424,185 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Shares of NYSE:ARES opened at $127.88 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The stock has a market cap of $42.18 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 1.14 and a beta of 1.51. The stock’s fifty day simple moving average is $123.70 and its two-hundred day simple moving average is $124.66. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $195.26.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company earned $1.09 EPS. As a group, analysts forecast that Ares Management Corporation will post 5.98 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.2%. Ares Management’s dividend payout ratio (DPR) is currently 251.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. TD Cowen boosted their price objective on Ares Management from $144.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Citigroup reaffirmed an “outperform” rating on shares of Ares Management in a research report on Thursday, July 9th. Barclays reduced their price target on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Ares Management to a “hold” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.93.

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.