JPMorgan Chase & Co. Lowers Oaktree Capital Group (OAK) Price Target to $51.00

Oaktree Capital Group (NYSE:OAK) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $53.00 to $51.00 in a report issued on Tuesday. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 19.86% from the stock’s previous close.

A number of other brokerages have also recently weighed in on OAK. Zacks Investment Research upgraded Oaktree Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. TheStreet cut Oaktree Capital Group from a “b-” rating to a “c+” rating in a report on Friday, November 17th. Finally, ValuEngine cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $49.80.

Oaktree Capital Group (OAK) traded down $0.20 during mid-day trading on Tuesday, hitting $42.55. The stock had a trading volume of 202,405 shares, compared to its average volume of 306,442. Oaktree Capital Group has a 1-year low of $41.10 and a 1-year high of $48.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.37. The firm has a market capitalization of $6,686.00, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.95 and a beta of 0.62.

Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.17. Oaktree Capital Group had a return on equity of 18.06% and a net margin of 15.75%. The business had revenue of $327.40 million for the quarter, compared to analysts’ expectations of $286.45 million. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue was down 6.8% on a year-over-year basis. sell-side analysts forecast that Oaktree Capital Group will post 3.48 EPS for the current year.

In related news, Director Ocm Growth Holdings Llc acquired 1,413,922 shares of Oaktree Capital Group stock in a transaction on Friday, December 8th. The shares were bought at an average price of $15.00 per share, for a total transaction of $21,208,830.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Oaktree Capital Management Lp acquired 84,054 shares of Oaktree Capital Group stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $5.22 per share, for a total transaction of $438,761.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 4,582,236 shares of company stock worth $44,812,086.

Several hedge funds and other institutional investors have recently made changes to their positions in OAK. Burgundy Asset Management Ltd. increased its position in shares of Oaktree Capital Group by 75.9% during the third quarter. Burgundy Asset Management Ltd. now owns 416,310 shares of the asset manager’s stock worth $19,587,000 after acquiring an additional 179,627 shares during the last quarter. Shelter Mutual Insurance Co purchased a new stake in shares of Oaktree Capital Group during the third quarter worth about $5,509,000. Steinberg Global Asset Management purchased a new stake in shares of Oaktree Capital Group during the third quarter worth about $4,186,000. Oak Grove Capital LLC purchased a new stake in shares of Oaktree Capital Group during the fourth quarter worth about $3,513,000. Finally, Shelter Ins Retirement Plan purchased a new stake in shares of Oaktree Capital Group during the third quarter worth about $3,477,000. 22.61% of the stock is currently owned by institutional investors and hedge funds.

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Oaktree Capital Group Company Profile

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.

Analyst Recommendations for Oaktree Capital Group (NYSE:OAK)

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