Hexagon Capital Partners LLC Decreases Holdings in Ares Management Co. (NYSE:ARES)

Hexagon Capital Partners LLC cut its stake in shares of Ares Management Co. (NYSE:ARES) by 31.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 196 shares of the asset manager’s stock after selling 88 shares during the period. Hexagon Capital Partners LLC’s holdings in Ares Management were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hartford Financial Management Inc. increased its stake in shares of Ares Management by 47.4% in the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Ares Management by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock worth $1,784,000 after purchasing an additional 90 shares in the last quarter. Rise Advisors LLC increased its stake in shares of Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after purchasing an additional 102 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Ares Management by 5.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,694 shares of the asset manager’s stock worth $320,000 after purchasing an additional 136 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Ares Management by 76.7% in the 4th quarter. Lindbrook Capital LLC now owns 318 shares of the asset manager’s stock worth $38,000 after purchasing an additional 138 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Stock Down 0.6 %

Shares of NYSE:ARES opened at $135.45 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 12 month low of $92.95 and a 12 month high of $150.12. The company has a 50-day moving average price of $138.09 and a 200 day moving average price of $131.15. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 1.17 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The business had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. During the same period in the previous year, the business posted $0.71 EPS. As a group, equities research analysts predict that Ares Management Co. will post 4.27 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, June 14th. Ares Management’s payout ratio is 166.82%.

Insider Activity at Ares Management

In related news, Chairman Antony P. Ressler sold 175,152 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $133.56, for a total value of $23,393,301.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Antony P. Ressler sold 175,152 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $133.56, for a total value of $23,393,301.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,458,640 shares of company stock valued at $197,862,103. Insiders own 41.89% of the company’s stock.

Analysts Set New Price Targets

ARES has been the subject of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. TD Cowen upped their target price on shares of Ares Management from $154.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Ares Management from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $132.00 in a report on Thursday, June 13th. Barclays dropped their target price on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, UBS Group upped their target price on shares of Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ares Management currently has a consensus rating of “Hold” and a consensus target price of $130.29.

Ares Management Profile

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.