Avitas Wealth Management LLC Sells 61 Shares of Ares Management Co. (NYSE:ARES)

Avitas Wealth Management LLC trimmed its holdings in shares of Ares Management Co. (NYSE:ARES) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,228 shares of the asset manager’s stock after selling 61 shares during the period. Avitas Wealth Management LLC’s holdings in Ares Management were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 65 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Ares Management in the 3rd quarter worth approximately $36,000. Eastern Bank purchased a new stake in Ares Management during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC increased its stake in Ares Management by 53.4% during the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 79 shares in the last quarter. Finally, CENTRAL TRUST Co raised its holdings in shares of Ares Management by 1,572.7% in the fourth quarter. CENTRAL TRUST Co now owns 368 shares of the asset manager’s stock worth $65,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 1,671 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the transaction, the insider now owns 253,214 shares of the company’s stock, valued at approximately $44,312,450. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 20,048 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $167.44, for a total value of $3,356,837.12. Following the sale, the chairman now directly owns 229,952 shares of the company’s stock, valued at $38,503,162.88. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 555,838 shares of company stock worth $96,785,773. 41.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ARES shares. Wells Fargo & Company dropped their price objective on shares of Ares Management from $212.00 to $207.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Barclays reiterated an “overweight” rating and issued a $224.00 price target on shares of Ares Management in a report on Monday, January 27th. Morgan Stanley upped their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, UBS Group upped their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $176.08.

Ares Management Stock Performance

NYSE:ARES opened at $189.71 on Thursday. The company has a fifty day moving average of $182.78 and a two-hundred day moving average of $164.99. Ares Management Co. has a fifty-two week low of $124.11 and a fifty-two week high of $200.49. The stock has a market capitalization of $59.39 billion, a PE ratio of 87.42, a P/E/G ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a net margin of 12.51% and a return on equity of 19.89%. As a group, research analysts forecast that Ares Management Co. will post 4.04 earnings per share for the current fiscal year.

About Ares Management

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.