Short Interest in Oaktree Capital Group LLC (OAK) Declines By 49.1%
Oaktree Capital Group LLC (NYSE:OAK) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 326,837 shares, a drop of 49.1% from the September 15th total of 641,886 shares. Based on an average daily volume of 228,313 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.5% of the company’s stock are sold short.
Oaktree Capital Group (NYSE:OAK) opened at 40.20 on Wednesday. The company has a market cap of $2.52 billion, a PE ratio of 25.38 and a beta of 0.50. The company’s 50-day moving average price is $42.55 and its 200 day moving average price is $45.19. Oaktree Capital Group has a 52 week low of $38.66 and a 52 week high of $52.15.
Oaktree Capital Group (NYSE:OAK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.22. The firm had revenue of $282.70 million for the quarter, compared to analyst estimates of $317.17 million. During the same period in the previous year, the business posted $0.44 EPS. On average, analysts anticipate that Oaktree Capital Group will post $2.54 EPS for the current year.
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In other Oaktree Capital Group news, major shareholder Oaktree Capital Group Holdings acquired 7,564,290 shares of the stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average price of $3.00 per share, with a total value of $22,692,870.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman John Frank sold 16,667 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 89,817 shares of the company’s stock, valued at approximately $4,049,848.53. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in OAK. Evercore Wealth Management LLC bought a new stake in shares of Oaktree Capital Group during the second quarter valued at approximately $112,000. Lazard Asset Management LLC raised its stake in shares of Oaktree Capital Group by 33.3% in the first quarter. Lazard Asset Management LLC now owns 4,000 shares of the company’s stock valued at $197,000 after buying an additional 1,000 shares in the last quarter. GWM Advisors LLC bought a new stake in shares of Oaktree Capital Group during the second quarter valued at approximately $276,000. Veritable L.P. raised its stake in shares of Oaktree Capital Group by 16.3% in the second quarter. Veritable L.P. now owns 6,288 shares of the company’s stock valued at $281,000 after buying an additional 882 shares in the last quarter. Finally, Lebenthal Asset Management LLC bought a new stake in shares of Oaktree Capital Group during the second quarter valued at approximately $305,000.
Several brokerages recently weighed in on OAK. Zacks Investment Research raised 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 report on Thursday, July 21st. Deutsche Bank AG reduced 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 report on Friday, July 29th. Barclays PLC cut shares of Oaktree Capital Group from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $45.00 to $38.00 in a report on Thursday, October 13th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Oaktree Capital Group in a report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $49.83.
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.
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