In a report released yesterday, Michael Cyprys from Morgan Stanley maintained a Hold rating on Ares Management (ARES - Research Report), with a price target of $82.00. The companys shares closed yesterday at $75.83.
According to TipRanks, Cyprys is a 4-star analyst with an average return of 6.1% and a 56.79% success rate. Cyprys covers the Financial sector, focusing on stocks such as LPL Financial, T Rowe Price, and Nasdaq.
In addition to Morgan Stanley, Ares Management also received a Hold from JMP Securitiess Brian McKenna in a report issued on October 27. However, yesterday, Bank of America Securities maintained a Buy rating on Ares Management (NYSE: ARES).
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Based on Ares Managements latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $601.43 million and a net profit of $39.73 million. In comparison, last year the company earned a revenue of $1.29 billion and had a net profit of $141.64 million
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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S. and European direct lending. The Credit Group provides solutions for traditional fixed income investors seeking to access the syndicated bank loan and high yield bond markets and capitalize on opportunities across traded corporate credit. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. The Private Equity Group segment manages shared control investments in corporate private equity funds. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. The company was by founded by Michael J. Arougheti, David B. Kaplan, John H. Kissick, Antony P. Ressler, and Bennett Rosenthal on November 15, 2013 and is headquartered in Los Angeles, CA.
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