Cubist Systematic Strategies LLC Buys 4,713 Shares of Ares Management LP Unit (ARES)

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Cubist Systematic Strategies LLC boosted its holdings in Ares Management LP Unit (NYSE:ARES) by 785.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,313 shares of the asset manager’s stock after acquiring an additional 4,713 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Ares Management LP Unit were worth $110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS Group AG increased its position in Ares Management LP Unit by 16.2% in the 1st quarter. UBS Group AG now owns 205,410 shares of the asset manager’s stock valued at $4,396,000 after acquiring an additional 28,676 shares during the period. Royce & Associates LP increased its position in Ares Management LP Unit by 19.4% in the 2nd quarter. Royce & Associates LP now owns 4,297,602 shares of the asset manager’s stock valued at $88,960,000 after acquiring an additional 697,436 shares during the period. American Century Companies Inc. increased its position in Ares Management LP Unit by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 1,671,518 shares of the asset manager’s stock valued at $34,600,000 after acquiring an additional 211,749 shares during the period. Point72 Asset Management L.P. acquired a new stake in Ares Management LP Unit in the 1st quarter valued at approximately $3,572,000. Finally, Alpine Global Management LLC acquired a new stake in Ares Management LP Unit in the 1st quarter valued at approximately $535,000. Hedge funds and other institutional investors own 39.55% of the company’s stock.

In other news, CFO Michael R. Mcferran purchased 7,500 shares of the stock in a transaction dated Monday, August 13th. The shares were bought at an average cost of $21.21 per share, for a total transaction of $159,075.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several analysts recently commented on ARES shares. Bank of America raised their target price on Ares Management LP Unit from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Jefferies Financial Group started coverage on Ares Management LP Unit in a research report on Thursday, June 28th. They issued a “buy” rating on the stock. Wells Fargo & Co upgraded Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 21st. Morgan Stanley raised their target price on Ares Management LP Unit from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, ValuEngine cut Ares Management LP Unit from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Ares Management LP Unit currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Shares of ARES stock opened at $20.72 on Friday. Ares Management LP Unit has a 1 year low of $18.00 and a 1 year high of $25.95. The firm has a market cap of $2.28 billion, a PE ratio of 10.74, a PEG ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.04.

Ares Management LP Unit (NYSE:ARES) last issued its quarterly earnings results on Thursday, August 2nd. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). Ares Management LP Unit had a net margin of 8.70% and a return on equity of 30.98%. The firm had revenue of $204.20 million for the quarter, compared to analyst estimates of $320.11 million. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was down 63.1% compared to the same quarter last year. As a group, research analysts expect that Ares Management LP Unit will post 1.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Thursday, September 13th. Ares Management LP Unit’s dividend payout ratio (DPR) is presently 58.03%.

Ares Management LP Unit Profile

Ares Management, L.P. 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.

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Institutional Ownership by Quarter for Ares Management LP Unit (NYSE:ARES)

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