Transaction details
Ares Management Corp director Ashish Bhutani acquired 10,000 shares of the companys Class A Common Stock on February 6, 2026, in a purchase valued at $1.27 million. The shares were bought at a weighted average price of $126.61 each, with execution prices in the range of $126.11 to $127.07. Following the purchase, Bhutani directly owns 34,071 shares of Ares, which include 1,166 restricted units. The transaction was reported on a Form 4 filing with the Securities and Exchange Commission on February 10, 2026.
Quarterly results recap
These insider purchases occurred in the context of Ares fourth-quarter 2025 financial results, which the company reported as an earnings-per-share (EPS) figure of $1.45, below the consensus expectation of $1.70. Revenue for the quarter came in at $1.5 billion, slightly under the forecasted $1.52 billion. Investors have registered concern regarding these shortfalls.
Analyst reactions
Market participants have seen differing analyst interpretations of Ares near- to medium-term prospects. Raymond James moved Ares rating from Market Perform to Strong Buy, citing an attractive growth outlook and assigning a price target of $157.00, which implies roughly 20% upside from the pricing referenced in the insider purchase. Raymond James forecast includes expectations of approximately 16%-20% fee-related earnings growth and 20%-25% realized income growth annually through the end of 2028.
In contrast, Goldman Sachs adjusted its valuation view by lowering its price target from $189.00 to $165.00 while maintaining a Buy rating. The banks revision reflects assumptions of a slightly slower pace of fee acceleration and incorporates updated tax rate guidance in the range of 11%-15%.
Context and takeaway
Bhutanis purchase increased his direct stake in Ares and was formally disclosed in the SEC filing on February 10, 2026. The firms most recent quarterly results underperformed consensus on both EPS and revenue, and analysts have reacted with different conclusions about the companys trajectory, evidenced by Raymond James upgrade and Goldman Sachs lowered price target. These developments together underscore a mix of internal buying activity and external analyst reassessments that market participants may weigh when evaluating Ares outlook.
Source filings and dates
- Insider purchase executed February 6, 2026; Form 4 filed February 10, 2026.
- Reported fourth-quarter 2025 EPS: $1.45 (versus $1.70 expected); revenue: $1.5 billion (versus $1.52 billion expected).
- Analyst actions: Raymond James upgraded to Strong Buy with $157.00 target and growth expectations through 2028; Goldman Sachs lowered target from $189.00 to $165.00, keeping a Buy rating and applying a tax rate guidance of 11%-15%.