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David B. Kaplan, Co-Founder and Director of Ares Management Corp (NYSE:ARES), recently sold a significant amount of Class A common stock, according to a recent SEC filing. Over a series of transactions from May 27 to May 29, Kaplan sold a total of 29,355 shares, with prices ranging from $165.06 to $165.07 per share. The total value of these transactions amounted to approximately $4.8 million. The sale comes as Ares, with a market capitalization of $53.85 billion, trades at a P/E ratio of 93.67. According to InvestingPro analysis, the stock appears overvalued relative to its Fair Value.
The sales were conducted under a 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks and avoid concerns about insider trading. Following these transactions, Kaplan, through Trently Holdings, LLC, holds 33,145 shares of Ares Management.
In addition to these holdings, Kaplan is a limited partner in Ares Owners Holdings L.P., which directly holds over a million shares of Ares Management’s Class A common stock.
In other recent news, Clearlake Capital Group is nearing the completion of a $5.5 billion private debt deal to fund its acquisition of Dun & Bradstreet Holdings Inc. This significant financing, led by Ares Management Corp. and Morgan Stanley (NYSE:MS), includes a $5 billion term loan and a $500 million revolving credit facility. Meanwhile, Ares Private Equity has acquired a majority stake in Landscape Workshop, a grounds maintenance provider in the Southeastern U.S., though the financial details of this transaction remain undisclosed. In another development, Eni has entered an exclusivity agreement with Ares Management to sell a 20% stake in Plenitude, with a valuation estimated between €9.8 billion to €10.2 billion. This move is part of Eni’s asset valorization strategy, potentially reducing its net debt to equity ratio significantly by year-end.
Additionally, JMP Securities has raised its price target for Ares Management to $185, citing stronger fundamentals and a favorable tax environment following a recent acquisition. Keefe, Bruyette & Woods also increased its price target for Ares Management to $180, following an earnings report that exceeded their expectations. Both firms maintain an Outperform rating on Ares Management, reflecting confidence in the company’s continued growth and profitability. These developments indicate a robust period for Ares Management, with strategic acquisitions and favorable analyst outlooks contributing to its positive trajectory.
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