Berry Ryan, Chief Marketing and Strategy Officer at Ares Management Corp (NYSE:ARES), recently sold shares in the company amounting to approximately $2.62 million. The transactions took place on November 27 and December 11, 2024, involving the sale of a total of 14,557 shares of Class A Common Stock at prices ranging from $180.07 to $180.16 per share. The sales occurred as ARES trades near its 52-week high of $185.06, with the stock delivering an impressive 56.56% return year-to-date. According to InvestingPro analysis, the company currently appears slightly overvalued at its market capitalization of $57.21 billion.
The sales were conducted under a pre-established 10b5-1 trading plan, which Ryan adopted on June 6, 2024. Following these transactions, Ryan holds 233,214 shares directly, with additional indirect holdings through various retirement and joint accounts. These transactions are part of regular financial management strategies and reflect Ryan's ongoing involvement in Ares Management Corp. InvestingPro subscribers can access 12+ additional exclusive insights about ARES, including detailed financial health metrics and comprehensive Pro Research Reports that transform complex Wall Street data into actionable intelligence.
In other recent news, Ares Management Corporation has shown impressive growth in its third-quarter earnings, with an 18% rise in management fees, a 24% increase in fee-related earnings, and a 28% growth in realized income. The firm also deployed nearly $30 billion in the quarter, contributing to a total of $74.6 billion for the year. RBC Capital Markets has twice updated its outlook on Ares Management, first lifting the price target from $170 to $185 and then from $185 to $205, maintaining an Outperform rating on the stock in both instances. These updates reflect Ares Management's robust standing as a leading entity in the private credit sector and its potential resilience in fundraising activities. In other developments, Ares Management Corporation has launched new products, contributing to portfolio diversification, and expects strong Q4 performance with anticipated fee-related performance revenues between $160 million and $170 million. Ares Management also anticipates continued growth in assets under management and performance income in 2025 and beyond.
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