ARES - Ares Management Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
26.62
-0.12 (-0.45%)
As of 9:59AM EDT. Market open.
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Previous Close26.74
Open26.59
Bid26.55 x 1000
Ask26.65 x 1200
Day's Range26.48 - 26.74
52 Week Range16.18 - 31.02
Volume31,930
Avg. Volume593,821
Market Cap6.158B
Beta (3Y Monthly)1.51
PE Ratio (TTM)35.54
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.28 (4.87%)
Ex-Dividend Date2019-09-13
1y Target EstN/A
Trade prices are not sourced from all markets
  • American City Business Journals

    Senior living facility to break ground near Mall at Wellington Green

    ZOM Senior Living and its partners obtained an $89.03 million construction loan to build a senior living facility near the Mall at Wellington Green. It will cover the first phase of the project, which will have 283 independent living, assisted living and memory care units. SunTrust Bank, PNC Bank and Comerica Bank were co-lenders in the mortgage to the developer, a partnership between Orlando-based ZOM, Liberty Senior Living, and Ares Management Corp. (NYSE: ARES).

  • Hedge Funds Aren’t Crazy About Ares Management Corporation (ARES) Anymore
    Insider Monkey

    Hedge Funds Aren’t Crazy About Ares Management Corporation (ARES) Anymore

    Legendary investors such as Jeffrey Talpins and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don't publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That's why we analyze the […]

  • Risky Loans Aren’t Just for the Market’s Insiders
    Bloomberg

    Risky Loans Aren’t Just for the Market’s Insiders

    (Bloomberg Opinion) -- A common finance joke is about how to name a hedge fund or alternative asset manager. Simply pick from the following: A type of tree, a body of water, a stone, a medieval structure, a historical figure or a Greek word. Mash them all together, add “Capital,” “Partners,” “Management” or “Advisers” at the end, and you’re all set.I was reminded of this after seeing some of the biggest firms involved in risky corners of the debt markets, both lenders and investors alike. Bloomberg News’s Lisa Lee reported this week about the burgeoning market for middle-market collateralized loan obligations, which are packed with private loans made to highly leveraged mid-sized companies that banks don’t care to lend to. Two weeks earlier, Bloomberg’s Davide Scigliuzzo highlighted how private equity firms were using “recurring revenue loans” to finance buyouts of businesses that are far from profitable. For the unfamiliar, it’s easy to get lost in this world. And that’s in no small part because of the firm names tossed around. In recurring revenue loans, according to Scigliuzzo’s reporting, there’s Vista Equity Partners, Thoma Bravo, Warburg Pincus and Marlin Equity Partners doing the buyouts of younger companies, and direct lenders like Ares Management Corp., Golub Capital, Monroe Capital and Owl Rock Capital Partners financing the loans.Owl Rock, in turn, priced its first middle-market CLO earlier this year, at a size almost $200 million more than it initially expected. It’s currently marketing another CLO, with pricing expected sometime this month. Golub Capital and Monroe Capital also issued such CLOs, though it’s unclear if recurring revenue loans are packaged into these deals. That opacity is a risk, along with the fact that the secondary market for middle-market CLOs is scant.It’s hard for a typical investor to get interested in those names, as opposed to companies like Tesla or Facebook or General Electric. Plus, at first glance, none of what they’re doing seems overly troublesome. In this era of ultra-low interest rates, it should come as no surprise that the search for returns has led to this sort of behavior. It might seem as if those at risk are merely the aggressive buyout firms and direct lenders.Of course, it’s not that simple. These sorts of products have a tendency to ultimately affect average investors, one way or another. Take business development companies, for example. Ares Capital Corp. is publicly traded (ticker ARCC), meaning anyone with an online brokerage account can buy or sell shares. Its business is to pick winners among U.S. middle-market companies. It was up 23% this year as of mid-September, but has since slumped along with other risk assets. Poor performance among BDCs tends to hurt shareholders more than the managers themselves, as the managers’ fees are generally related to the size of their holdings. And the biggest public shareholders in Ares Capital might ring a bell: Morgan Stanley, Wells Fargo & Co. and Bank of America Corp. all rank in the top 10, according to data compiled by Bloomberg data.Shares of Owl Rock’s BDC (ticker ORCC) began trading in July at $16.13, and closed Thursday at $15.95. Barron’s called it “one of the most closely watched new funds” in alternative investing, in part because its founders came from high-profile positions at Blackstone Group’s credit hedge fund GSO Capital Partners, Goldman Sachs Group Inc. and KKR & Co. The two biggest public owners are the Regents of the University of California and New Jersey’s pension funds, Bloomberg data show. But that’s just one way a pension fund can get involved in this sort of direct lending. The Canada Pension Plan Investment Board, with $400 billion in assets under management, acquired Antares Capital in 2015. Antares is one of the largest middle-market lenders, with $26 billion of assets. Arguably, an investing behemoth with a long-term time horizon is exactly who should be buying middle-market loans. But that’s not where the story ends. Antares Capital, like other firms, has packaged loans into middle-market CLOs. It priced a $505 million CLO in April, along with two offerings of more than $1 billion each last year. The various tranches, including the ones that barely have investment-grade ratings, are at least partly in the hands of life insurance companies. Antares and other CLO managers do have to keep a portion of the securities, under a policy known as risk retention. Still, it’s another way that this growth is permeating throughout the financial system. Even the Church of England’s pension board now favors loans to small- and medium-sized companies.All this is to say, investors shouldn’t just shrug off the explosive growth in direct lending and the push to get a slice of above-market returns. Middle-market CLOs now total $57 billion, almost triple the level of six years ago. It seems like only a matter of time before closed-end funds pop up that invest in these CLOs (if they haven’t already), given that they can sometimes offer 200 basis points more than typical structures. And then, those funds might be suggested to mom-and-pop type investors in search of double-digit yields. Some of the bundles might contain recurring revenue loans. It’s how the cycle goes.As it stands now, the opaque and illiquid market for direct lending probably isn’t big enough to be the single flash point if the credit cycle turns and these companies flounder. But it is widespread enough to cause a lot of people at least some pain. Just because many of the main players sound like they’re straight out of a name generator doesn’t mean Main Street is entirely off the hook.To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Moody's

    Cooper's Hawk Intermediate Holding, LLC -- Moody's assigns Cooper's Hawk first-time CFR of B3; first lien credit facilities rated B3

    Moody's Investors Service ("Moody's") assigned first-time new issuer ratings for Cooper's Hawk Intermediate Holding, LLC ("Cooper's Hawk"), including a B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating (PDR). In addition, the company's senior secured first lien credit facilities were also rated B3, including its new $225 million 7-year term loan B and $35 million 5-year revolver.

  • Stock Picking Expert Mark Minervini On The Mindset To Win
    Investor's Business Daily

    Stock Picking Expert Mark Minervini On The Mindset To Win

    Stock picking expert Mark Minervini shares key tips about the mindset to win with investing. Plus, we analyze AutoZone stock, Lattice stock and Ares stock.

  • Moody's

    Panoche Energy Center, LLC -- Moody's upgrades Panoche's senior secured notes to Caa1 from Caa2. Outlook revised to positive from negative

    Rating Action: Moody's upgrades Panoche's senior secured notes to Caa1 from Caa2. New York, September 11, 2019 -- Moody's Investors Service ("Moody's") has upgraded Panoche Energy Center, LLC's (Panoche or the Project) senior secured notes to Caa1 from Caa2. The upgrade to Caa1 from Caa2 and the outlook revision to positive reflects Pacific Gas & Electric's (PG&E) proposed plan of reorganization that incorporates PG&E assuming its power purchase agreements (PPA).

  • Moody's

    Midwest Physician Admin Svcs, LLC -- Moody's affirms Midwest Physician Admin Svcs, LLC's (DuPage) B2 CFR; outlook stable

    Moody's Investors Service ("Moody's") today affirmed Midwest Physician Admin Svcs, LLC's (a core operating company of DuPage Medical Group Ltd. referred to herein as "DuPage") B2 Corporate Family Rating ("CFR"), B2-PD Probability of Default Rating and individual debt instrument ratings. Additionally, DuPage's investments in its new surgery centers and behavioral health capabilities should further improve credit metrics.

  • Thomson Reuters StreetEvents

    Edited Transcript of ARES earnings conference call or presentation 31-Jul-19 4:00pm GMT

    Q2 2019 Ares Management Corp Earnings Call

  • Reasons Driving Conversion of Private Equities Into C-Corp
    Zacks

    Reasons Driving Conversion of Private Equities Into C-Corp

    Favorable markets and conversions into C-corps, which kick-started post the 2017 tax overhaul, are providing a boost to shares of private equity firms.

  • GuruFocus.com

    Royce Premier Fund Comments on Ares Management

    Guru stock highlight Continue reading...

  • GuruFocus.com

    Royce Premier Fund 2nd Quarter Manager Commentary

    We were pleased our High-Quality Strategy outperformed its index and maintained its long term advantages during the first half of 2019 despite challenges for cyclical sectors and most value stocks Continue reading...

  • Chuck Royce: Performance And Positioning For Our High-Quality Strategy
    GuruFocus.com

    Chuck Royce: Performance And Positioning For Our High-Quality Strategy

    Royce Funds founder on 2 high-quality holdings and how he is managing cash in our High-Quality strategy Continue reading...

  • Moody's

    Press Ganey Holdings, Inc. -- Moody's announces completion of a periodic review of ratings of Azalea TopCo, Inc.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Azalea TopCo, Inc. New York, August 09, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Azalea TopCo, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Ares Management LP (ARES) Q2 2019 Earnings Call Transcript
    Motley Fool

    Ares Management LP (ARES) Q2 2019 Earnings Call Transcript

    ARES earnings call for the period ending June 30, 2019.

  • Moody's

    99 Cents Only Stores LLC -- Moody's upgrades 99 Cents' CFR to Caa1; PDR upgraded to Caa1-PD appended with LD designation

    Moody's Investors Service ("Moody's") today upgraded 99 Cents Only Stores LLC's (99 Cents) Corporate Family Rating and Probability of Default rating to Caa1 and Caa1-PD from Caa2 and Ca-PD respectively and appended the PDR with the "/LD" (limited default) designation. Moody's will remove the "/LD" designation from the company's PDR after three days. Moody's also upgraded the company's Senior Unsecured Notes to Caa3 from Ca, and affirmed the senior secured term loan rating at Caa2.

  • Ares Management (ARES) Q2 Earnings Miss Estimates
    Zacks

    Ares Management (ARES) Q2 Earnings Miss Estimates

    Ares Management (ARES) delivered earnings and revenue surprises of -5.41% and 9.90%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Ares Management (ARES) Reports Next Week: Wall Street Expects Earnings Growth
    Zacks

    Ares Management (ARES) Reports Next Week: Wall Street Expects Earnings Growth

    Ares Management (ARES) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • GuruFocus.com

    Ares Management Corp (ARES) Co-Founder, CEO & President Michael J Arougheti Sold $3. ...

    Co-Founder, CEO & President of Ares Management Corp (30-Year Financial, Insider Trades) Michael J Arougheti (insider trades) sold 127,400 shares of ARES on 07/15/2019 at an average price of $28.3 a share. Continue reading...

  • GuruFocus.com

    Ares Management Corp (ARES) Co-Founder, CEO & President Michael J Arougheti Sold $7. ...

    Co-Founder, CEO & President of Ares Management Corp (ARES) Michael J Arougheti (insider trades) sold 274,712 shares of ARES on 07/11/2019 at an average price of $27.67 a share. Continue reading...

  • Moody's

    Emerald TopCo, Inc. -- Moody's assigns B3 to Emerald TopCo, Inc., outlook stable

    Moody's Investors Service ("Moody's") assigned a B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating to Emerald TopCo, Inc. (dba Press Ganey). Concurrently, Moody's assigned a B2 rating to the company's proposed $250 million senior secured first lien revolving credit facility and $1.25 billion senior secured first lien term loan. The B2 rating on the first lien debt reflects their priority position relative to second-lien debt of $453 million (unrated) in the capital structure.

  • GuruFocus.com

    Ares Management Corp (ARES) Co-Founder, CEO & President Michael J Arougheti Sold $6. ...

    Co-Founder, CEO & President of Ares Management Corp (NYSE:ARES) Michael J Arougheti sold 253,922 shares of ARES on 07/02/2019 at an average price of $26.52 a share.