©Reuters.
In a recent move, Bennett Rosenthal, co-founder and chairman of Ares Management Corp.'s (NYSE:) private equity group, sold a significant portion of his stake in the company. Rosenthal disposed of more than $3 million worth of stock through multiple transactions, according to the latest filing.
The sales took place on March 20th and 21st, with stock prices ranging from $131.89 to $137.53. The trades are executed based on a pre-arranged trading plan whereby insiders sell their shares at pre-determined times to avoid potential accusations of trading on non-public information. Can be done.
On the first day of the sale, Rosenthal sold shares at prices starting at $131.89 and ending at $133.48, bringing the total number of shares sold to 17,723. The next day, the price rose slightly from $135.16 to $137.53, with a total of 4,810 shares sold.
The total amount of stock sold by Rosenthal amounted to $3,012,960. It is worth noting that these sales were indirect, as they were made by BAR Holdings, LLC, which is controlled by Rosenthal. Following these transactions, Rosenthal still owns a significant stake in the company indirectly through Ares Owners Holdings LP, as indicated in the footnotes of the filing.
Ares Management Corp., headquartered in Los Angeles, California, is one of the world's leading alternative asset managers offering a wide range of investment solutions to its clients. The company's stock price movement and Rosenthal's recent stock sale will likely be closely watched by investors and market analysts alike.
Investment Pro Insights
Ares Management Corp. (NYSE:ARES)'s stock performance and valuation metrics have become even more important to investors in light of Bennett Rosenthal's recent stock sale. With a market capitalization of $41.45 billion, Ares Management Corp. is a stalwart of the global alternative asset management sector. The company's price-to-earnings ratio (P/E) is 54.42, rising to 70.42 after adjusting for the trailing 12 months as of Q4 2023, indicating a high earnings multiple that may call into question the stock's valuation. .
However, the company's PEG ratio, which measures its P/E to earnings growth, was low at 0.32 over the same period, suggesting that its growth prospects may be undervalued. This is supported by either: investment pro tipsnotes that Ares trades at a low P/E relative to its near-term earnings growth. Ares also has a strong track record of shareholder returns, increasing dividends for four consecutive years, and the most recent data shows a dividend yield of 2.78%.
Investors also note that the company's revenue growth rate for the trailing twelve months as of Q4 2023 was 18.87%, and its gross margin for the same period was 42.54%, demonstrating efficient operations and strong market performance. You may also feel secure in the fact that it signals a powerful position. For those looking to learn more about the company's financial position and future prospects, a number of additional pieces of information are available. investment pro tips Includes insights on net income growth, analyst earnings revisions, liquidity concerns, and more.
Investors seeking a comprehensive analysis of Ares Management Corp., including additional tips and real-time metrics, can visit https://www.investing.com/pro/ARES.Don't forget to use the coupon code pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions and get even more valuable insights to help you make investment decisions.
This article was generated with the help of AI and reviewed by an editor. Please see our Terms of Use for more information.
