As of May 26, 2023, Softbank Group Corp, a 10% owner of Renren (NYSE:RENN), has sold 152,870,520 shares of the company for a total transaction amount of $3,821,763. This information was revealed in a Form 4 filing submitted to the U.S. Securities and Exchange Commission. At the time of the filing, Renren shares were trading at $0.96, showing a 0.53% increase. While insider transactions can provide valuable insight for investors, they should not be the sole basis for making investment decisions. A purchase made by a company insider may indicate a positive outlook for the stock, but insider sells can occur for various reasons and do not necessarily suggest a negative outlook.
ARES Stock Overview: Modest Increase in Price on May 26, 2023 with Positive Earnings Growth Outlook
On May 26, 2023, ARES stock opened at 84.63, slightly higher than the previous day’s close of 84.28. Throughout the day, the stock’s price fluctuated between 83.83 and 85.50, with a volume of 412,275 shares traded.
The market capitalization of ARES is $25.0B, with a P/E ratio of 76.0 and a price/sales ratio of 3.83. The price/book ratio is 9.15.
The earnings growth of ARES has been volatile over the past year. While the company experienced a decline of 61.17% in earnings growth in the previous year, it has bounced back with a growth rate of 12.46% this year. The company’s earnings growth is expected to increase by 24.25% over the next five years.
However, ARES’s revenue growth has been declining, with a decrease of 27.27% in the previous year. The company’s net profit margin is 4.90%.
ARES operates in the investment management industry, which is part of the finance sector. The company’s corporate headquarters are located in Los Angeles, California.
Looking ahead, ARES is expected to report earnings on July 27, 2023, with an EPS forecast of $0.86 for the current quarter. The company reported an annual revenue of $3.1B and an annual profit of $153.4M in the previous year.
ARES stock performed modestly on May 26, 2023, with a slight increase in price. Nonetheless, the company’s positive earnings growth outlook may provide investors with confidence in the company’s future prospects.
Ares Management Corp Receives Positive Outlook from Analysts with a 15.88% Increase Target Price
On May 26, 2023, Ares Management Corp (ARES) received a positive outlook from analysts, with a median target price of $99.00, representing a 15.88% increase from the last price of $85.43. The company specializes in credit, private equity, and real estate investments, and has a diverse portfolio of investments. The current consensus among 15 polled investment analysts is to buy stock in Ares Management Corp, indicating that analysts have maintained their positive outlook on the company. Ares Management Corp reported earnings per share of $0.86 and sales of $711.1 million for the current quarter, and is set to report its earnings on July 27, 2023. Overall, investors are encouraged to consider buying stock in Ares Management Corp due to its positive outlook and strategic acquisitions.
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