PNC Financial Services Group Adds $2M in Ares Management Corporation ($ARES)
Key Points
- PNC Financial Services Group changed its Ares Management Corporation ($ARES) stake by 40.69% last quarter, boosting to 47,169 shares worth $5.31 million.
- Wall Street's consensus rating on $ARES is Buy and an average price target of $147.50.
- $ARES last traded around $112.47.
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PNC Financial Services Group increased its position in Ares Management Corporation ($ARES) by 40.69% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,169 shares of Ares Management Corporation after buying 13,642 shares during the quarter. PNC Financial Services Group's holdings in Ares Management Corporation were worth $5.31 million as of its most recent filing.
Ares Management Corporation Stock Down 21.1%
Shares of Ares Management Corporation ($ARES) traded around $112.47 on Saturday, down 21.1% for the day.
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About Ares Management Corporation
Ares Management Corporation operates as an alternative asset manager. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company's Private Equity Group segment specializes in early venture, turnaround, mid venture, late venture, recapitalization, growth capital, middle market, mezzanine, distressed and growth buyouts. The firm seeks to invest in healthcare, services, energy, industrials and consumer. The firm seeks to takes majority, minority and shared-control investments primarily in under-capitalized companies in North America, Europe, Asia Pacific, Southeast Asia and Australia. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm prefers to invest between $1 million and $500 million in companies having EBITDA between $10 million and $250 million and debt investment value between $10 million and $100 million. Ares Management Corporation was founded in 1997 and is based in Los Angeles, California with additional offices in North America, Europe and Asia.
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This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.