Oaktree Capital Group’s (OAK) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods
Oaktree Capital Group LLC (NYSE:OAK)‘s stock had its “outperform” rating restated by investment analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday.
Several other brokerages have also issued reports on OAK. Deutsche Bank AG lowered their price target on shares of Oaktree Capital Group from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Zacks Investment Research upgraded shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, July 14th. Finally, Barclays PLC lowered their price target on shares of Oaktree Capital Group from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Oaktree Capital Group has a consensus rating of “Buy” and a consensus price target of $52.17.
Oaktree Capital Group (NYSE:OAK) traded down 0.3251% during midday trading on Tuesday, hitting $43.3187. 39,112 shares of the company traded hands. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 27.3477 and a beta of 0.50. The stock’s 50-day moving average price is $44.39 and its 200 day moving average price is $46.19. Oaktree Capital Group has a 12-month low of $38.66 and a 12-month high of $52.15.
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Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.22. The company had revenue of $282.70 million for the quarter, compared to analyst estimates of $317.17 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. On average, equities analysts forecast that Oaktree Capital Group will post $2.52 EPS for the current year.
In related news, Vice Chairman John Frank sold 16,667 shares of Oaktree Capital Group stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $45.09, for a total transaction of $751,515.03. Following the completion of the sale, the insider now owns 89,817 shares of the company’s stock, valued at approximately $4,049,848.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Oaktree Capital Group Holdings bought 7,564,290 shares of Oaktree Capital Group stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average cost of $3.00 per share, with a total value of $22,692,870.00. The disclosure for this purchase can be found here.
Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Oaktree Capital Group by 13.0% in the first quarter. Wellington Management Group LLP now owns 1,501,533 shares of the company’s stock valued at $74,071,000 after buying an additional 172,376 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Oaktree Capital Group by 20.1% in the first quarter. JPMorgan Chase & Co. now owns 1,172,142 shares of the company’s stock valued at $57,822,000 after buying an additional 196,330 shares during the last quarter. TIAA CREF Investment Management LLC bought a new stake in shares of Oaktree Capital Group during the first quarter valued at approximately $4,638,000. Edge Asset Management Inc. increased its stake in shares of Oaktree Capital Group by 7.0% in the second quarter. Edge Asset Management Inc. now owns 569,595 shares of the company’s stock valued at $25,495,000 after buying an additional 37,505 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Oaktree Capital Group during the first quarter valued at approximately $246,000.
About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is a global investment manager specializing in alternative investments. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.
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