Hall of Fame Open to feature highest purse at WTA 125 level
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The Hall of Fame Open begins with qualifying on Sunday and runs through July 13.
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Yahoo
an hour ago
- Yahoo
What Makes Ares Management Corporation (ARES) a Long Term Investment?
Parnassus Investments, an investment management company, released the 'Parnassus Mid Cap Growth Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. The Russell Midcap Growth Index fell 7.12% in the first quarter, starting with a continuation of the late 2024 rally but later experiencing a sharp decline. The Fund (Investor Shares) fell -9.98% (net of fees) in the quarter, compared to the Russell Midcap Growth Index's -7.12% fall. Stock selection in Consumer Discretionary and Industrials contributed to the relative performance, while Communication Services and Health Care detracted. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Parnassus Mid Cap Growth Fund highlighted stocks such as Ares Management Corporation (NYSE:ARES). Founded in 1997, Ares Management Corporation (NYSE:ARES) is an alternative asset manager. The one-month return of Ares Management Corporation (NYSE:ARES) was 4.69%, and its shares gained 28.63% of their value over the last 52 weeks. On July 3, 2025, Ares Management Corporation (NYSE:ARES) stock closed at $177.96 per share, with a market capitalization of $58.12 billion. Parnassus Mid Cap Growth Fund stated the following regarding Ares Management Corporation (NYSE:ARES) in its Q1 2025 investor letter: "We also added four competitively advantaged, highly profitable and market-share-gaining companies whose stocks had sold off due to what we view as transitory issues. Ares Management Corporation (NYSE:ARES) is a fast-growing alternative asset manager with a leading private credit franchise. We don't know when the market will rebound, but we expect these new positions will lead the market higher whenever it does. A close up of a senior financial advisor reviewing a portfolio and making recommendations for an investor. Ares Management Corporation (NYSE:ARES) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Ares Management Corporation (NYSE:ARES) at the end of the first quarter, which was 43 in the previous quarter. While we acknowledge the potential of Ares Management Corporation (NYSE:ARES) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Ares Management Corporation (NYSE:ARES) and shared the list of stocks with high PE ratios that are getting dumped by insiders. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of ARES as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Business Insider
4 hours ago
- Business Insider
The NCAA settlement is a big win for football players. For other athletes, the picture is murkier.
DI track and field athlete Sabrina Oostburg isn't celebrating the recent NCAA settlement, which allows colleges to pay athletes directly. The Belmont University student said she was standing next to a volleyball player and two football players when the news came out. One of the football players reacted positively and then turned to the volleyball player to get her take. "It's good for you because you're going to get paid, but some of your female athlete friends might get cut," Oostburg recalled the volleyball player saying. The recent settlement, which ended multiple antitrust cases against the NCAA, sets up a system in which football players will likely get the lion's share of the money. The settlement's back-pay portion, for example, allocates 75% to football, guided by how much revenue the sport brings in. Colleges that opt into the settlement can pay up to $20.5 million to their athletes for the year starting July 1 (with increases in subsequent years). "It's going to be focused on football, basketball," Craig Weiner, a partner and litigator at Blank Rome, told Business Insider. While schools are free to distribute the money to different teams as they wish, there is a clear incentive for them to want to remain competitive in football to generate revenue. That could mean some athletic programs — if we take that 75% figure as guidance — will need to cover $15 million in new expenses to pay football players. Where is the money going to come from? Oostburg said she's worried about cuts to her team and others that don't make money for the college. She fears they could lose roster spots, places where they practice and train, or even snacks. "I think you're going to see cuts potentially in the non-revenue sports," Weiner said. "As far as support, athletic facilities, athletic support. Money that is that is earmarked to help the non-revenue producing sports, because they're going to focus on the money makers." The settlement ruling could create Title IX issues The skew toward football and men's basketball in the $2.8 billion back-pay part of the settlement has already attracted a legal challenge. Dan Ain, an attorney at Reavis, Page, Jump, noted that current and former DI female athletes had filed an appeal. They argued that 90% of the back pay going to former football and men's basketball players was a violation of Title IX, which requires schools to give male and female athletes equitable opportunities. Ain also pointed out that Judge Claudia Wilken, who oversaw the case, said that athletes could sue if they felt there was any infringement on Title IX due to the nature of the revenue share model. "This is new territory for schools," Ain said. "Schools, for the first time, will be deciding how to allocate tens of millions of dollars in revenue share to individual athletes. The expectation right now is that the distribution is going to be grossly unequal between men and women, and that will open schools up to Title IX litigation." Athletes have to run their deals through a clearinghouse Oostburg said she also had concerns about a new clearinghouse that will oversee deals athletes strike on their own with brands, called NIL deals (short for "name, image, and likeness"). Athletes with deals of over $600 will have to report them to the clearinghouse, operated by Deloitte, which will determine the athlete's value. If the deal is higher than their assessed value, it can't go through. Athletes who don't report deals or violate them by taking something of a different value could have their eligibility taken away. For athletes like Oostburg in "non-revenue" sports, NIL deals — often driven in part by their social media footprint — are the biggest money-making opportunity. "That does concern me," Oostburg said. "If I get a deal over $600 and they decide, no, that doesn't make sense for someone like a track athlete like me to get a $1,000 deal."
Yahoo
5 hours ago
- Yahoo
US Supreme Court to weigh transgender athlete bans
The US Supreme Court agreed on Thursday to wade into the hot-button issue of transgender athletes in girls and women's sports. The court said it would hear cases next term challenging state laws in Idaho and West Virginia banning transgender athletes from female competition. More than two dozen US states have passed laws in recent years barring athletes who were assigned male at birth from taking part in girls or women's sports. The conservative-dominated Supreme Court's decision to hear the cases comes two weeks after it upheld a Tennessee law banning gender-affirming medical treatment for transgender minors. The Supreme Court also recently backed a move by President Donald Trump, who campaigned on the issue of transgender athletes, to have transgender troops dismissed from the military. Trump issued an executive order in February aimed at banning transgender athletes from girls and women's sports. "From now on women's sports will be only for women," Trump said. "With this executive order the war on women's sports is over." The executive order allows federal agencies to deny funding to schools that allow transgender athletes to compete on girls or women's teams. In a high-profile case, the University of Pennsylvania agreed this week to ban transgender athletes from its women's sports teams, settling a federal civil rights complaint stemming from the furor around swimmer Lia Thomas. The Department of Education said that UPenn had entered into a resolution agreement vowing to comply with Title IX, the federal law which prohibits sex-based discrimination in any educational program. It follows an investigation by the department's Office for Civil Rights which found the university had violated Title IX by allowing transgender swimmer Thomas to compete in women's competitions. Thomas became a lightning rod around the debate over transgender athletes in women's sport after competing in female collegiate competitions in 2022. She had earlier swum on UPenn's men's team while undergoing hormone replacement therapy. Critics and some fellow swimmers said she should not have been allowed to compete against women due to an unfair physiological advantage. - 'Discriminatory laws' - The Idaho case accepted by the Supreme Court stems from the Republican-led state's 2020 "Fairness in Women's Sports Act." It was challenged by a transgender athlete at an Idaho university and lower courts ruled that it violates the equal protection clause of the Constitution. West Virginia's 2021 ban on transgender athletes was challenged by a middle school student who was not allowed to compete for the girls' track team. An appeals court ruled that the ban was a violation of Title IX. "We believe the lower courts were right to block these discriminatory laws, and we will continue to defend the freedom of all kids to play," Joshua Block, a senior counsel at the American Civil Liberties Union, said in a statement. "Like any other educational program, school athletic programs should be accessible for everyone regardless of their sex or transgender status," Block said. The Supreme Court will hear the cases during the term beginning in October and issue a ruling next year. cl/bgs
