Ares Management LP (ARES) is Downgraded by BofA/Merrill to Neutral

Ares Management LP (ARES) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 10, 2016.

On the company’s financial health, Ares Management LP reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.28. The company had revenue of $369.00 million for the quarter, compared to analysts expectations of $216.60 million. The company’s revenue was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Ares Management LP closed down -0.14 points or -0.81% at $17.13 with 32,683 shares getting traded on Monday. Post opening the session at $17.39, the shares hit an intraday low of $17.13 and an intraday high of $17.61 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 16, 2015, Michael R Mcferran (CFO) purchased 10,000 shares at $12.76 per share price. According to the SEC, on Dec 14, 2015, Michael D Weiner (EVP, CLO & Secretary) purchased 2,000 shares at $12.75 per share price. On Dec 4, 2015, Bennett Rosenthal (Co-Founder & Partner) purchased 8,026 shares at $14.41 per share price, according to the Form-4 filing with the securities and exchange commission.

Ares Management L.P. is a global alternative asset manager. The Company provides its investment management capabilities through various funds and products that meet the needs of a range of institutional and retail investors. The Company operates in four segments: Tradable Credit Group Direct Lending Group Private Equity Group and Real Estate Group. The Company’s Tradable Credit Group is a participant in the tradable non-investment grade corporate credit markets. The Company’s Direct Lending Group is a self-originating direct lender to the United States and European markets. The Company’s Private Equity Group manages five private equity commingled funds which focus primarily on North America and Europe and China. The Company’s Real Estate Group manages public and private equity and debt strategies.

Ares Management LP

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