Ares Management, L.P. (ARES)’s Stock Formed A Several Months Ascending Triangle Chart Pattern

December 8, 2017 - By Vivian Currie

Investors sentiment decreased to 1.56 in 2017 Q2. Its down 1.69, from 3.25 in 2017Q1. It fall, as 8 investors sold Ares Management, L.P. shares while 8 reduced holdings. 13 funds opened positions while 12 raised stakes. 11.45 million shares or 48.63% less from 22.28 million shares in 2017Q1 were reported.
Citigroup holds 0% or 623 shares. Wells Fargo Company Mn has invested 0% in Ares Management, L.P. (NYSE:ARES). 40,495 are owned by Susquehanna Grp Ltd Liability Partnership. Fmr Ltd Liability Co reported 980,993 shares or 0% of all its holdings. American Century Cos Incorporated holds 1.18 million shares or 0.02% of its portfolio. Segall Bryant & Hamill Limited Co has invested 0.21% in Ares Management, L.P. (NYSE:ARES). Sterling Capital Mgmt Llc reported 0% in Ares Management, L.P. (NYSE:ARES). Royal Retail Bank Of Canada holds 9,840 shares. Raymond James Associates has invested 0% in Ares Management, L.P. (NYSE:ARES). Art Advsrs Limited Liability holds 16,400 shares or 0.02% of its portfolio. Macquarie Gru Limited owns 0% invested in Ares Management, L.P. (NYSE:ARES) for 24,100 shares. National Bank & Trust Of Ny Mellon holds 18,827 shares. Barclays Public Limited Co reported 117 shares or 0% of all its holdings. Pnc Grp Inc holds 141,707 shares. Jpmorgan Chase Comm has 454,255 shares.

The stock of Ares Management, L.P. (ARES) formed an ascending triangle with $17.39 target or 7.00 % below today’s $18.70 share price. The 8 months triangle pattern indicates high risk for the $3.98 billion company. If the $17.39 price target is reached, the company will be worth $278.32M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 1.36% or $0.25 during the last trading session, reaching $18.7. About 121,644 shares traded or 67.99% up from the average. Ares Management, L.P. (NYSE:ARES) has risen 31.82% since December 8, 2016 and is uptrending. It has outperformed by 15.12% the S&P500.

Analysts await Ares Management, L.P. (NYSE:ARES) to report earnings on February, 23. They expect $0.41 earnings per share, down 6.82 % or $0.03 from last year’s $0.44 per share. ARES’s profit will be $87.17M for 11.40 P/E if the $0.41 EPS becomes a reality. After $0.40 actual earnings per share reported by Ares Management, L.P. for the previous quarter, Wall Street now forecasts 2.50 % EPS growth.

Ares Management, L.P. (NYSE:ARES) Ratings Coverage

Among 10 analysts covering Ares Management (NYSE:ARES), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Ares Management had 29 analyst reports since August 11, 2015 according to SRatingsIntel. Keefe Bruyette & Woods upgraded the stock to “Outperform” rating in Friday, March 24 report. The firm has “Buy” rating by RBC Capital Markets given on Friday, August 4. Keefe Bruyette & Woods maintained Ares Management, L.P. (NYSE:ARES) rating on Wednesday, June 14. Keefe Bruyette & Woods has “Buy” rating and $2200 target. The firm earned “Outperform” rating on Friday, March 24 by Wood. Bank of America downgraded Ares Management, L.P. (NYSE:ARES) on Wednesday, August 10 to “Neutral” rating. The firm earned “Outperform” rating on Friday, April 7 by Wood. Keefe Bruyette & Woods maintained Ares Management, L.P. (NYSE:ARES) on Friday, August 4 with “Buy” rating. Keefe Bruyette & Woods maintained the stock with “Outperform” rating in Friday, May 13 report. The firm has “Buy” rating given on Friday, November 3 by RBC Capital Markets. Bank of America upgraded Ares Management, L.P. (NYSE:ARES) on Tuesday, December 8 to “Buy” rating.

More recent Ares Management, L.P. (NYSE:ARES) news were published by: Seekingalpha.com which released: “Ares Management From The Perspective Of A Preferred Investor: Money In The Bank” on November 29, 2017. Also Businesswire.com published the news titled: “Ares Management, LP to Present at Bank of America Merrill Lynch Future of …” on November 07, 2017. Businesswire.com‘s news article titled: “Ares Management’s Energy Infrastructure Funds Divest Operating Coal Portfolio” with publication date: November 28, 2017 was also an interesting one.

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