Oaktree Capital Group (NYSE:OAK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Oaktree Capital Group, LLC is an investment management firm focused on alternative markets. It specializes in credit and contrarian, value-oriented investing. The Company manages funds in investment strategies that fall into the six asset classes, which include: distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities. Oaktree Capital Group, LLC is based in Chicago, Illinois. “
A number of other analysts also recently weighed in on the company. ValuEngine downgraded Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. TheStreet downgraded Oaktree Capital Group from a “b-” rating to a “c+” rating in a research note on Friday, November 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Oaktree Capital Group currently has a consensus rating of “Hold” and an average price target of $49.50.
Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.72 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $327.40 million for the quarter, compared to the consensus estimate of $286.45 million. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. research analysts anticipate that Oaktree Capital Group will post 3.48 EPS for the current year.
In other news, Director Ocm Growth Holdings Llc bought 1,413,922 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were bought at an average cost 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 accessible through this link. Also, major shareholder Oaktree Capital Management Lp bought 84,054 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were purchased 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. Over the last quarter, insiders have acquired 4,582,236 shares of company stock worth $44,812,086.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stelac Advisory Services LLC purchased a new stake in shares of Oaktree Capital Group in the third quarter valued at $113,000. Carroll Financial Associates Inc. lifted its position in shares of Oaktree Capital Group by 200.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the asset manager’s stock valued at $126,000 after acquiring an additional 2,000 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Oaktree Capital Group by 698.4% in the third quarter. IFP Advisors Inc now owns 3,545 shares of the asset manager’s stock valued at $167,000 after acquiring an additional 3,101 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Oaktree Capital Group in the fourth quarter valued at $175,000. Finally, North Star Investment Management Corp. lifted its position in shares of Oaktree Capital Group by 235.3% in the fourth quarter. North Star Investment Management Corp. now owns 4,208 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 2,953 shares in the last quarter. Institutional investors own 22.61% of the company’s stock.
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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