Recently, Bennett Rosenthal, co-founder and chairman of the private equity group at Ares Management Corp (NYSE:), sold a significant portion of his holdings in the company. Rosenthal sold more than $3 million worth of stock in multiple transactions, according to recent filings.
Sales took place on March 20 and 21 with prices ranging from $131.89 to $137.53. The trades were executed in accordance with a predetermined trading plan, which allows insiders to sell shares at a predetermined time to avoid any potential accusations of insider trading.
On the first day of the sale, Rosenthal sold shares at prices starting at $131.89 and going up to $133.48, for a total of 17,723 shares sold. The next day, prices rose slightly and ranged from $135.16 to $137.53, with a total of 4,810 shares traded.
The total value of Rosenthal’s shares sold was $3,012,960. It is worth noting that these sales were indirect because they were conducted by BAR Holdings, LLC, a company controlled by Rosenthal. Following these transactions, Rosenthal still indirectly owns a significant amount of the company’s shares through Ares Owners Holdings LP, as noted in footnotes in the filing.
Ares Management Corp, headquartered in Los Angeles, California, is a leading global alternative asset manager that provides a range of investment solutions to its clients. Investors and market analysts will likely be keeping a close eye on the company’s stock performance and the recent sale of Rosenthal shares.
InvestingAbout Insights
In light of Bennett Rosenthal’s recent stock sale, the performance and valuation of Ares Management Corp (NYSE:ARES) stock becomes even more relevant to investors. Ares Management Corp, with a market capitalization of $41.45 billion, is a heavyweight in the global alternative asset management sector. The company’s price/earnings (P/E) ratio is 54.42, and when adjusted for the trailing twelve months as of the fourth quarter of 2023, it rises to 70.42, signaling a high earnings multiple that could raise questions about the stock’s valuation.
However, the company’s PEG ratio, which measures P/E relative to earnings growth, stands at a low 0.32 over the same period, hinting at potentially undervalued growth prospects. This is confirmed by one of Investment Tips, which notes that Ares shares are trading at a low P/E ratio relative to near-term earnings growth. In addition, Ares has a proven track record of returning profits to shareholders by increasing its dividend for 4 consecutive years, with the latest dividend yield of 2.78%.
Investors can also take solace from the company’s revenue growth of 18.87% over the trailing twelve months as of the fourth quarter of 2023, as well as its gross margin of 42.54% over the same period, indicating efficient operations and strong position in the market. For those who want to dig deeper into a company’s financial condition and future prospects, there are many additional Investment Tips available, including information on net income growth, analyst earnings revisions and liquidity concerns.
Investors seeking in-depth analysis of Ares Management Corp, including additional advice and real-time metrics, visit https://www.investing.com/pro/ARES. Don’t forget to use coupon code PRONEWS24 to receive an additional 10% discount on annual or two-year Pro and Pro+ subscriptions, providing even more valuable information to help you make investment decisions.
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