Oaktree Capital Group LLC (OAK) Downgraded by Barclays PLC
Oaktree Capital Group LLC (NYSE:OAK) was downgraded by research analysts at Barclays PLC to an “underweight” rating in a research note issued on Thursday.
OAK has been the topic of several other reports. Zacks Investment Research upgraded shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, July 21st. Deutsche Bank AG decreased their target price on shares of Oaktree Capital Group from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Oaktree Capital Group in a research report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Oaktree Capital Group currently has an average rating of “Buy” and a consensus price target of $51.00.
Oaktree Capital Group (NYSE:OAK) opened at 40.40 on Thursday. Oaktree Capital Group has a 12-month low of $38.66 and a 12-month high of $52.15. The company has a market capitalization of $2.53 billion, a PE ratio of 25.51 and a beta of 0.50. The stock has a 50 day moving average of $42.97 and a 200 day moving average of $45.45.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/oaktree-capital-group-llc-oak-downgraded-by-barclays-plc.html
Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Thursday, July 28th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.22. The business had revenue of $282.70 million for the quarter, compared to analyst estimates of $317.17 million. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities research analysts predict that Oaktree Capital Group will post $2.54 EPS for the current year.
In related news, major shareholder Oaktree Capital Group Holdings bought 7,564,290 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was bought at an average cost of $3.00 per share, with a total value of $22,692,870.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $21.00, for a total transaction of $181,233,990.00. The disclosure for this sale can be found here.
Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position 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 worth $74,071,000 after buying an additional 172,376 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Oaktree Capital Group by 10.2% in the second quarter. JPMorgan Chase & Co. now owns 1,291,635 shares of the company’s stock worth $57,813,000 after buying an additional 119,493 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Oaktree Capital Group by 18.9% in the second quarter. Bank of New York Mellon Corp now owns 1,125,099 shares of the company’s stock worth $50,360,000 after buying an additional 178,873 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Oaktree Capital Group by 7.0% in the second quarter. Mackenzie Financial Corp now owns 756,625 shares of the company’s stock worth $33,867,000 after buying an additional 49,619 shares in the last quarter. Finally, Markel Corp increased its position in shares of Oaktree Capital Group by 9.3% in the second quarter. Markel Corp now owns 644,500 shares of the company’s stock worth $28,848,000 after buying an additional 55,000 shares in the last quarter.
Oaktree Capital Group Company Profile
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.
Receive News & Ratings for Oaktree Capital Group LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Capital Group LLC and related companies with MarketBeat.com's FREE daily email newsletter.