Revenue Update on Ares Management LP(NYSE:ARES)

Ares Management LP(NYSE:ARES) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $369.54M. Analysts estimated a revenue of $164.13M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.29.

In a different note, On May 13, 2016, Keefe Bruyette & Woods said it Maintains its rating on Ares Management LP. In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Outperform’ by the firm.

Ares Management LP (ARES) shares turned negative on Wednesdays trading session with the shares closing down -0.05 points or -0.28% at a volume of 40,791. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18. The peak price level was also seen at $18 while the days lowest was $17.59. Finally the shares closed at $17.91. The 52-week high of the shares is $19.46 while the 52-week low is $10.72. According to the latest information available, the market cap of the company is $1,447 M.

Several Insider Transactions has been reported to the SEC. On Dec 16, 2015, Michael R Mcferran (CFO) purchased 10,000 shares at $12.76 per share price.Also, 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.

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