Bennett Rosenthal, Co-Founder and Chairman of the Private Equity Group at Ares Management Corp (NYSE:ARES), has sold a total of $1,729,246 worth of Class A Common Stock, according to a recent SEC filing. The transactions were executed on April 3, 2024, with prices ranging from $130.96 to $132.95 per share.
The filing revealed two separate sales by Rosenthal. The first sale involved 6,044 shares at a weighted average price of $131.78, while the second sale consisted of 7,052 shares at a weighted average price of $132.27. These sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule to sell stocks at a future date, providing a defense against potential accusations of insider trading.
Following these transactions, Rosenthal's indirectly held ownership through BAR Holdings, LLC decreased to 50,000 shares of the company's Class A Common Stock. The report also noted that Rosenthal, via a vehicle controlled by him, is a limited partner in Ares Owners Holdings L.P., which directly holds a significant portion of Ares Management stock.
Investors often monitor insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is not uncommon for executives to sell shares for reasons that may not necessarily relate to the company's performance, such as diversifying their investment portfolio or financing personal expenditures.
Ares Management Corp, with its headquarters in Los Angeles, California, specializes in providing investment advice and is known for its significant role in the global alternative asset management sector.
InvestingPro Insights
The recent insider transactions at Ares Management Corp (NYSE:ARES) by Co-Founder Bennett Rosenthal have caught the attention of market observers. To provide further context to these sales, InvestingPro data and tips offer additional insights into the company's financial health and stock performance.
According to InvestingPro data, Ares Management Corp currently has a market capitalization of $41.5 billion, with a notable revenue growth of 18.87% over the last twelve months as of Q4 2023. The company's P/E ratio stands at a high 54.22, with an adjusted P/E ratio for the same period at 70.53, suggesting a high earnings multiple in comparison to near-term earnings growth. Despite this, the PEG ratio, which measures the relationship between the price/earnings ratio and earnings growth rate, is at a low 0.32, indicating potential for future earnings growth relative to its share price.
InvestingPro Tips highlight that Ares Management has raised its dividend for 4 consecutive years and has maintained dividend payments for 11 consecutive years, a testament to the company's commitment to returning value to shareholders. Furthermore, Ares has experienced a significant price uptick with a 25.45% price total return over the last six months and a 73.31% return over the last year, underscoring its strong performance in the market.
For investors seeking a deeper dive into Ares Management's prospects, there are additional InvestingPro Tips available, such as the company's expected net income growth this year and its trading patterns. To explore these further, visit https://www.investing.com/pro/ARES and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. A total of 14 InvestingPro Tips are available, providing a comprehensive analysis of Ares Management's financial and stock performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.