Ares Management LP (ARES) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.28. The company posted revenue of $369.00 million in the period, 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.