Oaktree Capital Group LLC (OAK) Sees Large Volume Increase
Oaktree Capital Group LLC (NYSE:OAK) shares saw strong trading volume on Wednesday . 290,550 shares traded hands during mid-day trading, an increase of 17% from the previous session’s volume of 247,846 shares.The stock last traded at $45.20 and had previously closed at $46.30.
A number of analysts have issued reports on the company. Zacks Investment Research raised Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, April 28th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Oaktree Capital Group in a report on Monday, April 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Oaktree Capital Group in a report on Saturday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on Oaktree Capital Group from $58.00 to $59.00 in a report on Tuesday, March 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Oaktree Capital Group presently has a consensus rating of “Buy” and a consensus price target of $53.33.
The stock has a market cap of $2.82 billion and a P/E ratio of 39.47. The firm has a 50 day moving average of $45.48 and a 200 day moving average of $46.01.
Oaktree Capital Group (NYSE:OAK) last released its earnings results on Thursday, April 28th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.01. The business earned $312.90 million during the quarter, compared to analysts’ expectations of $288.16 million. Oaktree Capital Group’s revenue was down 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, equities research analysts expect that Oaktree Capital Group LLC will post $2.24 earnings per share for the current fiscal year.
A number of large investors have added to or reduced their stakes in the company. Usca Ria LLC boosted its stake in Oaktree Capital Group by 4.7% in the fourth quarter. Usca Ria LLC now owns 27,532 shares of the company’s stock valued at $1,314,000 after buying an additional 1,227 shares during the last quarter. Alpha Omega Wealth Management LLC purchased a new position in shares of Oaktree Capital Group during the fourth quarter worth approximately $2,100,000. Agran Libbie boosted its position in shares of Oaktree Capital Group by 10,017.1% in the fourth quarter. Agran Libbie now owns 5,627,842 shares of the company’s stock worth $2,686,000 after buying an additional 5,572,215 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Oaktree Capital Group by 44.7% in the fourth quarter. Wells Fargo & Company MN now owns 157,338 shares of the company’s stock worth $7,508,000 after buying an additional 48,590 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Oaktree Capital Group by 17,472.5% in the fourth quarter. Bank of Montreal Can now owns 159,910 shares of the company’s stock worth $7,630,000 after buying an additional 159,000 shares during the last quarter.
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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