Oaktree Capital Group, LLC (NYSE:OAK) Announces Quarterly Earnings Results
Oaktree Capital Group, LLC (NYSE:OAK) issued its quarterly earnings data on Thursday. The asset manager reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.25, Briefing.com reports. Oaktree Capital Group had a return on equity of 17.74% and a net margin of 19.08%. During the same quarter in the previous year, the firm posted $0.79 EPS.
Shares of Oaktree Capital Group (NYSE OAK) traded up 0.52% during midday trading on Thursday, hitting $47.95. The stock had a trading volume of 171,406 shares. The stock has a market cap of $3.08 billion, a PE ratio of 13.60 and a beta of 0.60. Oaktree Capital Group has a 12 month low of $36.95 and a 12 month high of $48.35. The stock’s 50-day moving average is $47.25 and its 200-day moving average is $45.40.
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OAK has been the topic of several recent analyst reports. BidaskClub upgraded Oaktree Capital Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Deutsche Bank AG raised their target price on Oaktree Capital Group from $44.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, April 28th. TheStreet raised Oaktree Capital Group from a “c+” rating to a “b-” rating in a research report on Monday, April 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $54.00 target price (down from $56.00) on shares of Oaktree Capital Group in a research report on Monday, July 10th. Finally, Jefferies Group LLC started coverage on Oaktree Capital Group in a research report on Wednesday, June 28th. They set a “hold” rating and a $49.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.00.
In other Oaktree Capital Group news, Director Ocm Growth Holdings Llc purchased 909,443 shares of the stock in a transaction dated Monday, June 12th. The shares were purchased at an average cost of $15.00 per share, with a total value of $13,641,645.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several hedge funds and other institutional investors have recently made changes to their positions in OAK. Morgan Stanley increased its position in shares of Oaktree Capital Group by 24.9% in the first quarter. Morgan Stanley now owns 1,984,724 shares of the asset manager’s stock worth $89,908,000 after buying an additional 395,918 shares during the last quarter. Edge Asset Management Inc. increased its position in shares of Oaktree Capital Group by 13.2% in the first quarter. Edge Asset Management Inc. now owns 1,032,699 shares of the asset manager’s stock worth $46,781,000 after buying an additional 120,230 shares during the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Oaktree Capital Group during the second quarter worth about $34,596,000. Markel Corp increased its position in shares of Oaktree Capital Group by 5.0% in the first quarter. Markel Corp now owns 730,500 shares of the asset manager’s stock worth $33,092,000 after buying an additional 35,000 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Oaktree Capital Group by 2.1% in the first quarter. Mackenzie Financial Corp now owns 700,369 shares of the asset manager’s stock worth $31,727,000 after buying an additional 14,312 shares during the last quarter. 23.28% of the stock is currently owned by hedge funds and other institutional investors.
About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. 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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