Long Position on ARES @ $28.00 on 8/9/2019 (Momentum)

Ares Management Corporation (ARES) operates as an alternative asset manager in the United States, Europe, and Asia.

The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.

Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies.

The company's Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies.

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. 

On July 31st, Ares Management LP (ARES) reported 2nd Quarter June 2019 earnings of $0.35 per share on revenue of $384.8 million. The consensus earnings estimate was $0.37 per share on revenue of $321.7 million. Revenue grew 88.5% on a year-over-year basis. 

Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's 50-day moving average. Higher share prices are expected. 

Entry Point: $28.00

Stop Loss: $26.60

Trading Range: $16.18 - $29.53

Target Price: $30.80

Updates

9/12/2019 12:52:39 PM

ARES closed at $30.30

Position closed on 9/12/2019 at price of $30.30 with a 8.21% gain in 34 days.

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