Long Position on ARES @ $75.50 on 8/31/2021 (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.

The firm was previously known as Ares Management, L.P. Ares Management Corporation was founded in 1997 and is headquartered in Los Angeles, California with additional offices in the United States, Europe and Asia. Ares Management GP LLC is the general partner of the company.

Ares Management reported 2nd Quarter June 2021 earnings of $0.64 per share on revenue of $1.3 billion. The consensus earnings estimate was $0.50 per share on revenue of $425.0 million. Revenue grew 114.8% on a year-over-year basis.

This stock should see an increase in share prices move along as it's "double bottom" chart formation.

Entry Point: $75.50

Stop Loss: $71.75

Trading Range: $38.25 - $76.71

Target Price: $83.00

Position closed on 9/23/2021 at price of $77.12 with a 2.15% gain in 23 days.

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