In a recent move, Bennett Rosenthal, Co-Founder and Chairman of the Private Equity Group at Ares Management Corp (NYSE:ARES), has sold a significant portion of his holdings in the company. According to the latest filings, Rosenthal disposed of shares worth over $3 million through multiple transactions.
The sales occurred on March 20 and 21, with prices for the shares ranging from $131.89 to $137.53. The transactions were executed under a pre-arranged trading plan, which allows insiders to sell stocks at predetermined times to avoid any potential accusations of trading on non-public information.
On the first day of the sell-off, Rosenthal sold shares at prices that started at $131.89 and went up to $133.48, with the total number of shares sold being 17,723. The following day, the prices were slightly higher, ranging from $135.16 to $137.53, with a total of 4,810 shares sold.
The total value of the shares sold by Rosenthal amounted to $3,012,960. It's worth noting that these sales were indirect, as they were made by BAR Holdings, LLC, a vehicle controlled by Rosenthal. Following these transactions, Rosenthal still indirectly owns a substantial number of shares in the company through Ares Owners Holdings L.P., as indicated by the footnotes in the filing.
Ares Management Corp, with its headquarters in Los Angeles, California, is a leading global alternative asset manager that provides a range of investment solutions to its clients. The company's stock performance and Rosenthal's recent sale of shares are likely to be closely watched by investors and market analysts alike.
InvestingPro Insights
In light of the recent share disposals by Bennett Rosenthal, Ares Management Corp's (NYSE:ARES) stock performance and valuation metrics become even more pertinent for investors. With a market capitalization of $41.45 billion, Ares Management Corp is a heavyweight in the global alternative asset management sector. The company's Price-to-Earnings (P/E) ratio stands at 54.42, and when adjusted for the last twelve months as of Q4 2023, it rises to 70.42, signaling a high earnings multiple which might raise questions about the stock's valuation.
However, the company's PEG ratio, which measures the P/E relative to earnings growth, is at a low 0.32 for the same period, hinting at potentially undervalued growth prospects. This is supported by one of the InvestingPro Tips, which notes that Ares is trading at a low P/E ratio relative to near-term earnings growth. Additionally, Ares has demonstrated a strong track record of returning value to shareholders, having raised its dividend for 4 consecutive years, with the dividend yield standing at 2.78% as of the most recent data.
Investors may also find comfort in the company's revenue growth, which was 18.87% for the last twelve months as of Q4 2023, and its gross profit margin of 42.54% for the same period, indicating efficient operations and a strong market position. For those considering a deeper dive into the company's financial health and future prospects, there are numerous additional InvestingPro Tips available, including insights on net income growth, earnings revisions by analysts, and liquidity concerns.
For investors seeking a comprehensive analysis of Ares Management Corp, including additional tips and real-time metrics, visit https://www.investing.com/pro/ARES. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable insights to inform your investment decisions.
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