Goldman Sachs Maintains Ares Management Equal-Weight Recommendation

Fintel reports that on July 18, 2023, Goldman Sachs maintained coverage of Ares Management Corp – (NYSE:ARES) with a Equal-Weight recommendation.

Analyst Price Forecast Suggests 0.34% Downside

As of July 6, 2023, the average one-year price target for Ares Management Corp – is 100.61. The forecasts range from a low of 89.89 to a high of $115.50. The average price target represents a decrease of 0.34% from its latest reported closing price of 100.95.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ares Management Corp – is 3,582MM, an increase of 13.58%. The projected annual non-GAAP EPS is 4.16.

What is the Fund Sentiment?

There are 860 funds or institutions reporting positions in Ares Management Corp -. This is an increase of 40 owner(s) or 4.88% in the last quarter. Average portfolio weight of all funds dedicated to ARES is 0.40%, a decrease of 14.65%. Total shares owned by institutions increased in the last three months by 1.27% to 182,385K shares. The put/call ratio of ARES is 0.40, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 17,634K shares representing 9.69% ownership of the company. In it’s prior filing, the firm reported owning 19,437K shares, representing a decrease of 10.22%. The firm increased its portfolio allocation in ARES by 9.31% over the last quarter.

Sumitomo Mitsui Financial Group holds 13,365K shares representing 7.34% ownership of the company. No change in the last quarter.

Capital World Investors holds 10,060K shares representing 5.53% ownership of the company. In it’s prior filing, the firm reported owning 10,061K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in ARES by 18.22% over the last quarter.

Capital International Investors holds 6,585K shares representing 3.62% ownership of the company. No change in the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 5,175K shares representing 2.84% ownership of the company. No change in the last quarter.

Ares Management Background Information
(This description is provided by the company.)

Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $149 billion of assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries.

This article originally appeared on Fintel