Wells Fargo analyst Christopher Harris maintained a Buy rating on Ares Management (ARES) today. The company’s shares closed last Wednesday at $40.56, close to its 52-week high of $41.88.
According to TipRanks.com, Harris is a 4-star analyst with an average return of 8.0% and a 64.3% success rate. Harris covers the Financial sector, focusing on stocks such as BrightSphere Investment Group, Intercontinental Exchange, and Apollo Global Management.
Currently, the analyst consensus on Ares Management is a Strong Buy with an average price target of $43.00.
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The company has a one-year high of $41.88 and a one-year low of $20.20. Currently, Ares Management has an average volume of 1.12M.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARES in relation to earlier this year.
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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S. and European direct lending. The Credit Group provides solutions for traditional fixed income investors seeking to access the syndicated bank loan and high yield bond markets and capitalize on opportunities across traded corporate credit. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. The Private Equity Group segment manages shared control investments in corporate private equity funds. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. The company was by founded by Michael J. Arougheti, David B. Kaplan, John H. Kissick, Antony P. Ressler, and Bennett Rosenthal on November 15, 2013 and is headquartered in Los Angeles, CA.